SUI fell sharply from $3.34 to below $2.96 on June 13, 2025, marking a 13% decline, before rebounding above $3. The sell-off followed broader market volatility and profit-taking after recent gains. Technical analysts suggest the $3 level represents psychological support, with buyers defending this zone amid high trading volumes.
The rebound above $3 indicates short-term traders may view this as a buying opportunity, though sustained recovery depends on broader crypto market sentiment. On-chain data shows increased accumulation by large wallets near $2.96-$3.02, suggesting institutional interest. However, resistance remains near $3.20-$3.30 from previous support-turned-resistance levels.
Market observers note that SUI’s performance mirrors altcoin sector weakness, with TON and SOL also facing pressure. The $3 level’s durability will likely depend on Bitcoin’s price action and whether miners continue capitalizing on recent profitability to support network security.
