SUI Faces Short-Term Retracement With Potential Fall Toward $3 Support Level

SUI recently sustained bullish momentum after a strong rally in late April, breaking previous resistance at $2.78. Despite this, the altcoin has declined 8.8% since May 2, following Bitcoin's rejection from the $97,000 mark, which caused broader market sentiment to wane. Technical indicators such as the Chaikin Money Flow (CMF) and Money Flow Index (MFI) remain positive on the daily chart, signaling capital inflows and maintaining bullish structure. However, the failure to defend the $3.50 support and liquidity data point to likely near-term downward price action. Analysts expect SUI to test support zones around $3.14 and $3, with possible further dips toward $2.75 or $2.45 if bearish momentum persists. Traders are advised to monitor Bitcoin’s movements for broader market cues; a reversal could see SUI targeting $3.9 in a renewed rally.