Sui [SUI] has recently undergone a significant price correction, mirroring broader market volatility as Bitcoin experienced its own fluctuations. This latest downturn has only exacerbated an already well-established bearish trajectory for the altcoin, with key psychological and technical resistance levels proving difficult to overcome.
SUI's Enduring Bearish Trend
The long-term outlook for SUI remains unequivocally bearish. Since failing to decisively break past its May 2025 highs of $4.3, SUI has consistently formed a series of lower lows, confirming a persistent downtrend that solidified into a bearish swing structure by late October. Recent price action has seen SUI shed double-digit percentages, struggling to maintain its footing amidst wider market sell-offs. Crucially, the psychological $1 mark has proven to be a formidable resistance, with recent attempts to surpass it met with strong selling pressure, reinforcing the continuation of its downward path.
Unyielding Resistance and Capital Outflows
Further reinforcing the bearish sentiment, the $1.02 level, representing a 61.8% Fibonacci retracement, became a critical rejection point, pushing SUI's internal price structure back into bearish territory. This is complemented by consistent capital outflows, evidenced by the CMF remaining below -0.05 for several weeks, indicating a sustained lack of buying interest. With the rejection at the $1 threshold illuminating the path forward, traders are now eyeing local lows around $0.788, with $0.70 as the next potential downside target. While a rally beyond $1.16 would invalidate this bearish outlook, such a scenario currently appears improbable, barring significant external market shifts.
