SUI’s Current Market Struggle
Recent data confirms that SUI is navigating a challenging period. As of October 24, 2025, the token is trading at approximately $2.47, with market sentiment being largely bearish and the Fear & Greed Index sitting at a level of 30, indicating “Fear” among investors. This aligns with your observation of a significant price slide.
The technical picture presents a nuanced view. On one hand, the 14-day Relative Strength Index (RSI) is at 34.85, which is considered a neutral position but is flirting with the ‘oversold’ threshold (below 30). This condition can sometimes precede a potential bounce, as it may indicate that selling pressure is exhausting itself. On the other hand, the price is trading below its key moving averages, including the 50-day Simple Moving Average (SMA) at $3.28 and the 200-day SMA at $3.14. The fact that the current price is below these levels generally points to a sustained downtrend, and all major moving averages are currently signaling “SELL”.
Key Levels to Watch and the Path Forward
For traders and investors, specific price levels are critical for determining the next major move.
The immediate support level to watch is $2.37, with further supports at $2.31 and $2.24. A decisive break below these, particularly the 50% Fibonacci retracement level you mentioned, could indeed open the door for a deeper correction. Conversely, the nearest resistance is at $2.50, followed by $2.57 and $2.63. A high-volume break above these levels, especially the more significant resistance you noted at $3.89, would be a strong technical signal that a more substantial recovery could be underway.
While the “oversold” RSI condition and positive on-chain metrics you mentioned provide a basis for cautious optimism, the overall technical structure remains weak. The high volatility of 13.75% over the last 30 days also means the price can swing dramatically in either direction. Therefore, the key, as you stated, is to monitor how the price interacts with the support zone around $2.38 and the resistance at $3.89. The outcome at these technical frontiers will be the true test of whether the bulls can regain control and mount a convincing rebound.
