#SuiUpdate Sui ($SUI) is an up-and-coming blockchain that uses the Move programming language to enable low-latency management of assets.

The price of $SUI has performed impressively since its launch in 2023, rising from around $1.50 to an all-time high of $5.3647, marking a year-to-date gain of over 300%. Data from Coinglass supports this sentiment, showing a decent long-to-short ratio for the coin.

Sui recently broke below its ascending trendline, a support level it had maintained since November 27. Although the price briefly recovered to retest the broken trendline, it faced rejection, signaling a potential shift in market structure from bullish to bearish.

At press time, $SUI is trading at approximately $4.17. If the pullback continues, the price could decline by another 16%, potentially retesting its 200-day Exponential Moving Average (EMA) at $3.75.