SUI Price Dips 3.4% as Institutional Selling Triggers Technical Breakdown

SUI experienced a sharp 3.4% decline over the past 24 hours, falling from $2.62 to $2.53 after a late-day selloff accelerated on heavy trading volume. According to CoinDesk Analytics, the drop broke through the critical $2.60 support level that traders had been closely monitoring, marking a bearish turn for the token.

The selloff began when trading volume surged past 25.4 million—over 180% higher than the daily average—signaling potential institutional or algorithmic activity rather than retail panic. After facing strong rejection at $2.577, SUI plunged to $2.527 within minutes, with nearly 2.7 million tokens exchanged in a single minute. Analysts noted this sharp move was likely triggered by stop-loss orders and automated sell programs.

Throughout the session, price charts revealed a consistent pattern of lower highs and lower lows. Multiple recovery attempts failed to breach resistance at $2.60 and $2.66, reinforcing bearish sentiment. Sellers dominated the market, maintaining firm control of the upper boundary levels.

Notably, the decline occurred without any major fundamental catalyst or breaking news, suggesting that the move was primarily driven by technical factors and systematic selling pressure. Traders are now watching for potential support around the $2.50 mark, while resistance remains firmly established between $2.577 and $2.66.

The broader crypto market mirrored SUI’s weakness. The CoinDesk CD5 Index slipped 1.67% to $1,978.58, breaking below the psychologically important $2,000 threshold after briefly touching $2,040 earlier in the day.

As SUI faces heightened volatility, technical traders are eyeing key levels for potential rebounds or further declines, with institutional behavior continuing to shape short-term market momentum.