SUI Drops 10% to $3.02, but Is a Turnaround Forming After Buyers Step In Near $3?

Sui (SUI) SUI dropped 9.64% to $3.0211 connected June 13, extending a steep overnight correction that saw the token autumn from $3.34 to an intraday debased of $2.9556. The breakdown astatine $3.20 — a antecedently steadfast enactment zone—unleashed dense merchantability unit and marked a turning constituent successful short-term sentiment, with implicit 50 cardinal tokens traded during the selloff.

After concisely breaching the $3.00 level, SUI recovered enactment astir $2.997, wherever purchaser involvement began to surface. Price has since recovered into a constrictive $3.00–$3.05 consolidation band, though momentum remains fragile. Lower highs proceed to form, suggesting that sellers are inactive successful power unless bulls tin reclaim levels supra $3.05 with conviction.

The crisp determination follows a question of broader crypto weakness and a little spike successful BTC prices tied to U.S. ostentation information earlier this week. While the macro backdrop remains uncertain, SUI’s terms behaviour appears chiefly technical: the $3.20 breakdown triggered cascading stop-losses and panic selling, portion intelligence enactment adjacent $3.00 has temporarily stemmed the decline.

Volume patterns suggest cautious accumulation, with a notable spike astatine 14:00 UTC erstwhile implicit 1.2 cardinal tokens changed hands. However, unless buyers tin reclaim cardinal absorption levels, the existent bounce whitethorn beryllium short-lived. A confirmed adjacent supra $3.05 would beryllium the archetypal measurement toward invalidating the existent downtrend.

Technical Analysis Highlights

• UI dropped from $3.343 to $2.9556 successful 24 hours, a 12.9% diminution earlier partial recovery.
• Sell unit intensified aft the $3.20 breakdown astatine 00:00 UTC, with 50M+ tokens traded.
• Price has stabilized successful a $3.00–$3.05 consolidation band.
• A insignificant betterment lifted terms from $2.997 to $3.017 successful the astir caller hour.
• Volume astatine 14:00 UTC topped 1.2M, signaling short-term accumulation adjacent support.
• Resistance sits astatine $3.05; enactment remains steadfast astatine $2.94.

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