SUI Slides 3.4% as $2.60 Support Snaps on 180% Volume Surge

The SUI fell 3.4% previously 24 hours, falling from $2.62 to $2.53 after a late-day breakdown accelerated by sharp quantity spikes, indicating doubtless institutional promoting.

The decline shattered the $2.60 help degree, a key threshold that merchants had been eyeing all through the session, CoinDesk Analytics discovered.

The disaster began when quantity exceeded 25.4 million, effectively above 180% of the 24-hour common. The worth motion turned more and more bearish because the night wore on, with a second wave of promoting intensifying.

A pointy rejection at $2,577 was adopted inside minutes by a steep drop to $2,527 as almost 2.7 million tokens modified arms in a single minute, doubtless attributable to algorithmic promoting applications and stop-loss orders.

The charts confirmed a transparent sample of decrease highs and decrease lows all through the day. A number of makes an attempt to regain floor above $2.60 failed, with resistance holding at $2.66. Sellers repeatedly intervened and strengthened the cap.

There did not appear to be any main information or elementary catalyst that might drive this transfer, suggesting that the value discovery was led by technical breakdowns. The quantity profile and timing of the sell-off indicated systematic promoting, not retail panic.

Merchants at the moment are searching for help close to the $2.50 zone, whereas resistance stays effectively outlined at $2.577 and $2.66.

The broader market additionally confirmed stress. The CoinDesk CD5 Index fell 1.67% to $1,978.58, falling beneath the psychologically vital $2,000 degree regardless of earlier good points that briefly pushed it close to $2,040.