After a steep midnight selloff, the SUI token has begun to stabilize, hovering around the $3.43 mark as recovery efforts take hold.

SUI experienced a sharp decline of 9.25%, dropping from $3.72 to $3.38, with the most intense selling concentrated during the midnight UTC trading session. Volume surged to nearly 80% above the daily average, signaling heightened market activity.

The token’s recent correction comes amid rising geopolitical tensions that continue to rattle cryptocurrency markets worldwide. Although Bitcoin has held firm above critical resistance levels, SUI has faced persistent downward pressure despite underlying strong fundamentals.

Further uncertainty has been fueled by the Cetus Protocol exploit, which resulted in $223 million worth of assets being stolen—$162 million of which has been frozen. The Sui community, however, remains hopeful as 71% of validators have already voted “yes” to a recovery plan aimed at reclaiming the frozen funds.

Technical Overview

• SUI/USD declined from a high of $3.73 to a low of $3.38, marking a 9.25% drop.
• Midnight trading saw the heaviest selling pressure, with a 4% price drop on volumes 78% above average.
• Key resistance has formed at $3.55.
• Support at $3.42 was tested and recovery attempts followed, highlighted by increased volume between 01:00 and 02:00 UTC.
• A descending trendline of lower highs suggests ongoing bearish momentum.
• A flash crash between 09:37 and 09:38 pushed prices down sharply from $3.45 to $3.40 on extraordinary volume of 4.3 million tokens.
• A V-shaped recovery recovered approximately 60% of the lost value.
• The price settled between $3.43 and $3.44, indicating some stabilization.
• Solid buying interest is evident at the $3.40 support level across multiple timeframes.
• Resistance around $3.45-$3.46 has emerged, with selling pressure waning and a consolidation pattern taking shape.