$SUI

SUI has dropped by 3.4% in the past 24 hours, from $2.62 to $2.53, due to an accelerated breakdown in the evening accompanied by intense trading volume, indicating possible institutional selling.

This decline broke the support level at $2.60, a key threshold that traders have been monitoring throughout the trading process, according to CoinDesk Analytics.

The breakdown began when trading volume surged above 25.4 million, far exceeding the 24-hour average level of 180%. Price action became increasingly bearish in the evening, with a second wave of selling intensifying.

After experiencing a sharp rejection at $2.577, the price plummeted to $2.527 within minutes, with nearly 2.7 million tokens changing hands in one minute, possibly triggered by algorithmic sell programs and stop-loss orders.

The chart shows a clear pattern of lower highs and lower lows throughout the day. Multiple attempts to reclaim the $2.60 level failed, with resistance holding firm at $2.66. Sellers continually intervened, reinforcing the upper boundary.

No significant news or fundamental catalysts have driven this trend, suggesting that price discovery is primarily guided by technical breakdowns. Volume characteristics and the timing of the sell-off point to systemic selling rather than retail panic.

Traders are now focusing on the support level near the $2.50 area, while resistance is clearly defined at $2.577 and $2.66.