The crypto market never sleeps, and neither does the drama! š Last night, SUI $SUI gave traders a serious wake-up callāplunging 6% from $3.59 to $3.38 in a matter of hours before buyers stepped in to defend the $3.40 level. Now, all eyes are on whether SUI can hold this crucial support or if more turbulence lies ahead.
š The Perfect Storm: Geopolitics Meets Protocol Recovery
SUIās$SUI sharp decline wasnāt just about price action. It came amid a perfect storm of market-moving events:
š US-China trade tensions: Fresh reports of stalled negotiations triggered risk-off sentiment across global markets, including crypto.
š”ļø Cetus Protocol Recovery Plan: The Sui community showed resilience, with over 90% of validators voting in favor of returning $162M in frozen funds after last weekās shocking $223M exploit. This positive development offered some relief, but wasnāt enough to prevent the broader sell-off.
š Technical Breakdown: The Battle at $3.40
The overnight action was intense:
SUI$SUI dumped from $3.59 to $3.38 in just a few hours, fueled by a spike in volumeā24.8M, more than triple the average.
Buyers stepped in at the $3.40ā$3.42 range, sparking a modest recovery.
Price briefly touched $3.44, but selling pressure re-emerged, rejecting the breakout attempt and keeping SUI in a tight range between $3.43ā$3.44.
A clear descending channel formed from the rejection at $3.48, highlighting bearish pressure even amid buying interest.
š The key question now: Can SUI sustain this support at $3.40? Or will sellers regain control and push it lower?
š What Traders Should Watch Next
As the dust settles, here are the levels and signals every SUI trader needs to watch:
š”ļø Support Zone: $3.40ā$3.42 (critical area for bulls to defend)
š« Resistance Zone: $3.44ā$3.48 (potential breakout level)
š Breakout Potential: A close above $3.50 could signal renewed bullish momentum.
š Breakdown Risk: A fall below $3.38 could open the door to further downside.
š The Community Rallies: Cetus Protocol Recovery Sparks Hope
While the price action remains volatile, the Sui community is showing its strength. The overwhelming support for the Cetus Protocol recovery planāreturning $162M in frozen fundsāhas been a huge win for user trust and ecosystem resilience. This could fuel long-term confidence in SUI, even as short-term price volatility persists.
š¢ Final Thoughts
SUIās wild price action is a reminder of how fast things can change in crypto. With geopolitical uncertainty and protocol recovery news in the mix, traders should stay alert, manage risk, and keep an eye on key levels.
Will SUI hold the line at $3.40? Or is another shakeout around the corner? Stay tuned, stay sharp, and let the charts guide your next move!
---
š Follow For More Crypto Insights!
š„ Join the conversation! Are you buying the dip or waiting for a clearer signal? Share your thoughts below!
#SUI #CryptoNews #BinanceSquare #Altcoins #CetusProtocol #CryptoCom
munity #MarketUpdate #PriceAction #CryptoVolatility š