The price of SUI, the native token of the Sui blockchain, has experienced a dramatic 80% decline from its all-time high of $5.37, now trading in a critical zone between $1.10 and $1.15. This places the token near a pivotal support level that analysts say will determine its medium-term fate.
Technical analyst Crypto Patel highlighted the severity of the correction, noting SUI now sits within a higher time frame corrective structure where "decisions tend to stick for months." The key support zone is identified between the 0.618 and 0.786 Fibonacci retracement levels, with $0.78 being the absolute last line of defense for bullish structure. A weekly close below this level would fundamentally change the market's recovery narrative.
On the resistance side, former support near $1.57 has turned into a significant barrier. Crypto Patel notes that reclaiming this level would open a path toward $2.10, but such a move requires strength that has not yet materialized. The current price action shows compression and low volatility, which often follows sharp declines as markets pause to reassess risk.
Meanwhile, other traders are identifying potential breakout setups. Analyst @NotXevk pointed to a descending triangle pattern on perpetual swap charts, outlining a long entry near $1.1491 with a target of $1.6951, using a weekly stop below $1.1343. The Relative Strength Index (RSI) recently rebounded from oversold levels below 30, suggesting short-term selling exhaustion, though the token continues to trade below its key 20-day and 200-day moving averages.
From a fundamental perspective, Sui is a high-performance Layer-1 blockchain designed for parallel transaction execution. Its ecosystem includes DeFi applications, gaming projects, and NFT infrastructure. The token's recent movement aligns with broader market themes of capital rotation into alternative Layer-1 networks, especially during periods of high Ethereum transaction costs.
The consensus among analysts is one of measured optimism with clearly defined risk parameters. The immediate outlook hinges on whether buyers can defend the $1.10-$1.03 support zone and subsequently break through the $1.22-$1.25 resistance cluster with volume. Failure to hold support could see SUI test deeper protection near $0.46.
