SUI ( $SUI ) Rebounds 4.5% from $2.88 Lows but Faces $3.17 Resistance Wall.
🪷. SUI is attempting a recovery after a significant drop to $2.88 due to the SEC's delay in reviewing the Canary Capital spot SUI ETF.
🪷. Investor confidence has been shaken by a $223 million exploit of the Cetus Protocol, raising concerns about the decentralization of the Sui network.
🪷. The broader crypto market is also struggling, with major altcoins experiencing declines of over 10% amid increased regulatory scrutiny.
🪷. Technical analysis indicates that SUI's near-term outlook is fragile, with key resistance and support levels determining its potential for recovery.
SUI is making a modest comeback after taking a serious hit, sliding all the way down to $2.88 following the U.S. SEC’s decision to delay reviewing the Canary Capital spot SUI ETF. This delay, which dropped on June 4, really spooked investors and triggered a sharp sell-off that knocked the token below $3.06, wiping out all those hard-earned gains from late May’s recovery.
