SUI Dips Sharply Overnight Before Stabilizing Near $3.40 as Buyers Return

SUI experienced a notable 6% decline during overnight trading, dropping from $3.59 to a low of $3.38 amid broader market volatility. Despite the sell-off, strong buying interest emerged at the critical $3.40 support level, helping the token regain some footing.

The sharp volume spike to 24.8 million units during the overnight hours—over three times the typical average—indicates heightened trader activity and uncertainty. Following the decline, SUI formed an ascending channel pattern, testing resistance near $3.50 but facing selling pressure.

Price momentum has since softened, with a brief pullback from $3.44 to $3.43 signaling a cautious market. The token remains range-bound between support at $3.43 and resistance at $3.44, suggesting traders are digesting recent volatility and awaiting clearer direction.

Meanwhile, the Sui network community showed support for Cetus Protocol’s recovery plan after its recent hack, with validators approving the unfreezing and return of assets to affected users—an encouraging sign of resilience within the ecosystem.