Sui (SUI) is trading around $0.87–$0.90 as it retests the 200-day moving average near $0.89, a level analysts see as crucial for the next directional move. The token initially broke above this long-term indicator in September and rallied toward $1.30 in October, but the latest pullback has brought it back to the key technical zone.
Analyst CryptoBullet contrasted the current retest with May’s failed attempt, when SUI approached the 200-day average near $1.40 before sellers stepped in and forced a prolonged downward move. Now, the analyst views the drop toward $0.89 as a possible support test. Holding this area could put the $1.00 level back in view, while a daily close below the moving average may expose the $0.80 region.
Perpetual liquidation data from Coinglass shows renewed activity among leveraged traders, with notable liquidation spikes between September 18 and October 8. Early May recorded the largest visible liquidation event, with a red bar near $19.76 million around May 10. More recently, both bullish and bearish traders have faced forced closures during volatile sessions, while reported 24-hour trading volume declined by 52.78%, leaving the latest recovery attempt without strong volume confirmation.
Market data shows SUI down about 3.74% over 24 hours to $0.87083, with the Crypto Fear & Greed Index at 26, signaling Fear. The selloff appears driven by broad risk-off sentiment rather than any Sui-specific failure. The Sui network status page reported all mainnet components operational, with no incidents listed from October 19 through November 2, 2026.
Derivatives positioning is neutral, with a funding rate near 0.0100%, while the spot orderbook shows a bid/ask ratio of 1.58, indicating more resting buy orders than sell orders. That divergence suggests the decline is being driven by market-sell orders rather than a structural shift in conviction. Twenty-four-hour spot volume was about $0.25 billion.
One positive development came on October 29, when the Sui Foundation announced that Mercado Bitcoin, Brazil’s largest crypto exchange with 4.5 million clients, would integrate SUI, USDC, and USDsui. The exchange holds 10 regulatory licenses across Brazil and Europe. However, that announcement has not yet provided a durable price floor against the wider altcoin selloff. Traders are now watching whether the bid/ask ratio holds above 1.3 and whether the Fear & Greed Index recovers above 30 as signs of stabilization.
