Sui extends losses, aiming for areas below the support of $3 after a 26% drop from recent highs.
The stable DeFi TVL at $1.75 billion suggests that investor confidence in the ecosystem remains intact despite the recent price decline.
SUI's position below the 50 and 100-day EMAs, along with multiple technical sell signals, implies an increase in bearish momentum.
Sui (SUI) struggles to contain losses after a 26% pullback from recent highs of $4.29, reached on May 12. The layer 1 token is at $3.1537 at the time of writing this Thursday, with a slight increase on the day. The support at $3 remains critical for the resumption of the bullish trend; however, if broken, the technical dynamics could change significantly, potentially accelerating losses.
SUI
1.3972
-5.21%