SUI Falls Below $2.00 Support as Volume Spikes and Traders Eye Key Reversal Pattern

SUI, the native token of the Sui Layer-1 blockchain, fell 2.5% to $1.98, breaking the key psychological and technical support level of $2.00. This decline occurred amidst heightened volatility and a significant surge in trading volume, which was about 180% higher than the daily average, suggesting institutional activity near critical price levels. Despite a failed bounce attempt at $1.96 against resistance at $2.05, shorter time-frame analysis revealed a potential turnaround, as a double-bottom pattern formed near $1.952 on the 60-minute chart. Near-term support is now established in the $1.93–$1.96 zone, with $2.05 as the next upside target; a sustained move above $1.970 could lead to a retest, while a drop below $1.93 risks a deeper correction.

(Source：CoinDesk)