SUI Tests Critical $1.50 Support Amid Bearish Momentum and Early Recovery Signs

SUI is trading near a long-term support zone between $1.50 and $1.66, with weekly charts showing a descending triangle pattern and lower highs, indicating sustained bearish pressure. Analysts like Crypto Patel describe the move toward $1.66 as a capitulation flush, potentially leading to an accumulation range of $1.70–$1.00 where larger participants may reposition.

Short-term analysis by Henry reveals SUI has broken below a declining support line and is trading beneath the SMA-9, acting as a dynamic barrier against upward moves. Sellers maintain control, with a potential further decline to $0.50 if momentum accelerates, though retests of broken trendlines may occur first.

Market capitalization trends show a steady drop from nearly $8 billion to about $6 billion between November 12 and November 18, reflecting persistent weakness despite brief rebounds. Trading activity increased slightly from a $5.8 billion low, suggesting renewed interest but insufficient to reverse the downtrend.

On a positive note, BitGuru and AltCryptoGems highlight the $1.50 area as a potential base for recovery, with bullish RSI divergence observed. Network metrics from DeFiLlama show strong fundamentals, including a TVL of $1.022 billion, daily DEX volume of $427.76 million, and perpetual markets adding $113.5 million, supporting sentiment for a trend shift if buyers reclaim levels above $2.10.