SUI’s price is currently testing a crucial support zone between $1.4 and $1.5, a level that could dictate its next major movement. After a period of consolidation, SUI has broken down from its range, with sellers dominating the market. The price now rests on a well-defined horizontal support level, historically a strong demand area. If this support holds, a short-term bounce could occur, but a breakdown could lead to further downside.
The market cap of SUI has shown low sentiment, dropping from approximately $6.7 billion to $6.0 billion on January 19, and has since moved sideways between $5.5 billion and $5.8 billion. This indicates a lack of strong buying or selling activity, reflecting market apathy. The next few days are critical for SUI, as the price action will determine whether the support zone holds or if further declines are imminent.
