$USDC After an impressive run-up that saw $SUI /USDT spike to a local high of $3.8750, the market appears to be cooling off. Currently priced at $3.1822, SUI has slipped nearly 7.9% on the day, and the candles are showing signs of short-term bearishness.
Looking at the chart, the price has now fallen below the 7-day EMA (3.3443) and is hovering close to the 25-day EMA (2.9680). This is often interpreted as a cooling trend or a potential shift in momentum from bullish to neutral or even bearish, at least in the short term. What's interesting is that the longer-term 99-day EMA sits at 2.8740, acting as a potential support if the pullback continues.
Volume also seems to be tapering off from the high buying periods seen during the recent run-up. This drop in volume alongside falling prices may signal weak buyer interest at current levels.
From a trend perspective, SUI remains in a broader uptrend, especially when you zoom out to the 30-day (+43.25%) or 1-year view (+186.04%). However, short-term traders should take note: the price is now testing a key area that could determine if we get a bounce or a deeper correction.
If SUI holds above $3.00 and regains strength near the 7-day EMA, the bulls could make another attempt toward $3.50 and beyond. But if it loses support near the 25-day EMA, it might retest the $2.87-$2.98 zone — a crucial confluence area of moving averages that could act as the last line of defense for bulls.
In short, the trend has paused — and now it’s a waiting game to see whether this is just a healthy dip before the next leg up, or the beginning of a trend reversal. The next few candles on the daily chart will be key in deciding that story.
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