SUI Slides 3.4% as $2.60 Support Breaks on Surging Volume

SUI fell 3.4% over the past 24 hours, slipping from $2.62 to $2.53 after an abrupt late-session selloff broke through key support at $2.60 amid a 180% jump in trading volume.

According to CoinDesk Analytics, the breakdown appeared to be driven by institutional or algorithmic activity rather than fundamental catalysts. Trading volume surged to 25.4 million tokens — more than 1.8 times the daily average — as a sharp rejection at $2.577 triggered a cascade of stop-loss orders. Nearly 2.7 million tokens changed hands within a single minute, marking one of the most active intervals of the month.

Charts revealed a clear bearish pattern of lower highs and lower lows throughout the session. Multiple recovery attempts above $2.60 failed, with resistance holding firm near $2.66 as sellers consistently stepped in to cap upside momentum.

“The move looks purely technical,” one analyst noted, citing the absence of news and the timing of the volume spikes. “Systematic selling likely drove the breakdown once liquidity thinned out in the late session.”

Traders are now watching the $2.50 level as the next key area of support, with resistance still defined between $2.577 and $2.66. A decisive close below $2.50 could expose further downside toward $2.45.

The broader market also softened, with the CoinDesk CD5 Index dropping 1.67% to $1,978.58, slipping below the psychological $2,000 threshold after briefly testing $2,040 earlier in the day.