SUI Price Volatility Signals Caution as Resistance Holds at $2.82

SUI ($2.83) saw heightened volatility over the past 24 hours, trading in a wide 7.3% range between $2.71 and $2.92. The token initially dipped to $2.71 before briefly rebounding to $2.92, but strong resistance near $2.82 halted further gains. This resistance zone triggered a sharp pullback, pushing the price back to the $2.78–$2.79 range.

The trading session was marked by increased activity, with volume spiking 11% above its 30-day average, intensifying intraday swings. According to CoinDesk Research's technical analysis, the increased participation led to rapid price fluctuations, exposing both bulls and bears to sharp reversals. The rejection from $2.82, coupled with failed breakout attempts, suggests that traders may adopt a more cautious stance in the short term.

Support held firm in the $2.72–$2.75 range, with multiple bounces confirming this zone as a critical base. Heavy selling pressure was observed at 08:00, causing a sharp 9.1% decline from $2.878 to $2.765. A recovery attempt at 18:00 briefly pushed the price up 1.5% to $2.824 on a volume surge of 1.4 million, but this rally was swiftly reversed.

As volume begins to cool and price action tightens, SUI may enter a consolidation phase. Traders will be watching closely for a decisive move beyond resistance or a breakdown below support to determine the next trend. For now, $2.82 remains a key ceiling, while $2.72 provides a solid floor. The current setup reflects short-term uncertainty but may offer opportunities once directional clarity returns.