$SUI Bearish Momentum – Detailed Technical Breakdown

$SUI has extended its downward trajectory, breaking below a key short-term support level and currently trading around $2.61, marking a -3.38% decline. This drop is accompanied by strong selling volume, signaling sustained bearish pressure in the market.

A minor intraday bounce is visible, but overall momentum remains weak. Unless bulls reclaim the $2.68–$2.70 resistance zone soon, further downside appears likely. If bearish momentum persists, the price could test deeper support levels near $2.58, and potentially slide toward $2.50 or even $2.44.

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🔍 Trade Setup:

Bias: Short

Entry Price: $2.62

Stop Loss: $2.68 (above the rejected resistance zone)

Take Profit Targets:

TP1: $2.58 (minor support)

TP2: $2.50 (major horizontal support)

TP3: $2.44 (next key demand zone)

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📊 Summary:

SUI is facing clear downward pressure after breaking structure. Traders should watch the $2.68 level closely—failure to reclaim it could validate continued bearish price action. Risk management is crucial, as short squeezes may occur in oversold zones.

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