SUI trades at $2.69 after a 3.8% daily drop, holding near immediate support without breaching the lower bound.
Resistance remains firm at $2.84, forming a tight 24-hour range with moderate activity levels.
Market cap analysis shows SUI would reach $22.98 if valued at Solana’s current capitalization, marking an 8.3x multiple.
SUI is trading at $2.69 following a 3.8% daily decline. Despite this drop, interest around the asset remains active, largely due to comparative market cap analysis. According to available data, if SUI’s market capitalization matched that of Solana’s—ranked 6th—then SUI’s price would theoretically sit at $22.98.
This projection stems from Solana’s current market valuation of $77.98 billion, while SUI’s stands at approximately $9.39 billion. Though these values are distinct, the comparison has sparked broader market discussions. Still, traders remain focused on real-time price behavior and technical zones.
Current Support Holds as Decline Slows
Following the 3.8% pullback, SUI continues to test its immediate support level around $2.69. This level now represents the lower bound of the 24-hour trading range. Although the token briefly moved toward this floor, it has not yet closed below it. This behavior suggests buyers remain active near the base. Furthermore, BTC-pairing metrics reflect an increase of 4.3%, showing relative strength against Bitcoin despite USD declines.
https://twitter.com/coingecko/status/1938115049547309492
The movement within this confined range sets the stage for potential fluctuations. Moreover, volume appears balanced without excessive spikes, indicating measured activity throughout the session.
Resistance Set Near $2.84 Amid Range Consolidation
While price action remains steady near the support, traders also identify the $2.84 mark as the current resistance zone. This ceiling marks the upper limit of the recent range. Notably, multiple hourly candles failed to break or close above this threshold.
With both support and resistance levels firmly defined, SUI’s trading path continues to stay within a narrow corridor. The next move depends on interaction within this band.
Market Cap Contrast Frames Broader Perspective
According to CoinGecko’s estimation, a market cap equal to Solana’s would place SUI at $22.98. That figure reflects an 8.3x increase over its current level. Although the comparison remains hypothetical, it emphasizes the gap between rankings #6 and #16.
Still, price action and market behavior remain focused on the present. The token trades within established zones without unusual volatility or trend breakouts.
