Sui Price Analysis: $3.52 Now Key Support Amid Market Selloff?

Sui price continues to face headwinds, dropping 3.25% in the last 24 hours to $3.72 and losing 4.63% over the past week. The market cap has slipped to $13.09 billion, while 24-hour trading volume plunged 37% to $1.32 billion. SUI traded between $3.63 and $3.88 during the session, reflecting investor caution after a broad cryptocurrency market selloff.

Broader market conditions also weigh on sentiment. U.S. CPI data showing 3.3% annual inflation caused a 1.5% crypto market drop and $1.05 billion in liquidations. For SUI, short liquidations of $119k exceeded long liquidations of $14k, underscoring bearish positioning. SUI’s futures open interest declined 9.2% to $1.79 billion, while funding rates normalized to 0.0083% after peaking in July.

Sui Price Analysis:

SUI attempted a breakout above the $3.57 Fibonacci level on August 15 but failed to hold momentum. Thereby triggering stop-loss orders and accelerating its decline. The rejection near the 30-day SMA at $3.79 and a negative MACD histogram at -0.0026 confirm fading bullish momentum. On the 4-hour chart, RSI has slipped to 44, suggesting a bearish tilt in the near term.

The SUI technical outlook shows price consolidating at $3.72, which aligns with the 61.8% Fibonacci retracement. A clean break below this level risks a move toward $3.52, the 78.6% Fib support zone. Any recovery attempt faces resistance at $3.85 and $4.07, where prior selling pressure emerged. A decisive move above $4.07 could shift focus to the $4.75 zone.

If SUI price holds the $3.72 support, it may consolidate before retesting $3.85 and $4.07. A breakdown, however, would likely accelerate selling toward $3.52, making this a critical zone for traders to watch.

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