$SUI Price Forecast: Sui extends losses, close to breaking $3.00 support, as bearish sentiment persists #Market_Update ๐๏ธ Buy and trade here ๐
โ๏ธSui extends losses, targeting areas below the $3.00 support after a 26% plunge from recent highs.
โ๏ธThe steady DeFi TVL at $1.75 billion suggests that investor confidence in the ecosystem remains intact despite the recent price decline.
โ๏ธSUIโs position below the 50-day and 100-day EMAs, in addition to multiple technical sell signals, implies increasing bearish momentum.
#Sui (SUI) struggles to contain losses after a 26% retracement from recent highs of $4.29, reached on May 12. The layer-1 token hovers at around $3.20 at the time of writing on Thursday, up slightly on the day. Support at $3.00 remains critical for the resumption of the uptrend; however, if broken, technical dynamics could change significantly, potentially accelerating losses.