Sui Price Plummets to $1.80 as 21-Day SMA Caps Recovery
Sui (SUI) has plunged from a high of $4.40 to a low of $1.83, with bulls defending the $1.80 support level. The altcoin remains oversold and range-bound between $1.80 and $2.06. Technical analysis shows the 21-day SMA trading below the 50-day SMA, capping gains near the $2.00 mark. Fibonacci retracement indicates a potential extension toward $2.19. Key demand zones sit at $3.00, $2.80 and $2.60, while supply clusters between $4.00 and $4.40. Traders should watch the 21/50-day moving average crossover and the $1.80 support floor for entry and exit signals.
Bearish
Sui’s sustained decline from $4.40 to $1.83, combined with the 21-day SMA below the 50-day SMA and repeated rejections at key resistance levels, underlines a bearish outlook. While the $1.80 support floor has held, the inability to break above short-term moving averages near $2.00 suggests continued downside risk. Fibonacci projections toward $2.19 and untested demand zones may offer temporary relief, but until the SMAs realign bullishly, traders should expect range-bound or downward pressure in the near term.