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By Siamak Masnavi, CD Analytics|Edited by Aoyon Ashraf
Updated Jun 13, 2025, 6:28 p.m. Published Jun 13, 2025, 6:05 p.m.
- SUI fell 9.64% to $3.0211 after plunging to $2.9556 earlier in the day, according to CoinDesk Research’s technical analysis model.
- Breakdown at $3.20 triggered cascading sell volume exceeding 50M.
- Price rebounded off support near $2.997 and stabilized in the $3.00–$3.05 range.
- Volume spiked at 14:00, with over 1.2M units traded in a single hour.
- Momentum remains weak as lower highs form and resistance builds near $3.05
Sui (SUI)
dropped 9.64% to $3.0211 on June 13, extending a steep overnight correction that saw the token fall from $3.34 to an intraday low of $2.9556. The breakdown at $3.20 — a previously firm support zone—unleashed heavy sell pressure and marked a turning point in short-term sentiment, with over 50 million tokens traded during the selloff.
After briefly breaching the $3.00 level, SUI found support around $2.997, where buyer interest began to surface. Price has since recovered into a narrow $3.00–$3.05 consolidation band, though momentum remains fragile. Lower highs continue to form, suggesting that sellers are still in control unless bulls can reclaim levels above $3.05 with conviction.
STORY CONTINUES BELOW
The sharp move follows a wave of broader crypto weakness and a brief spike in BTC prices tied to U.S. inflation data earlier this week. While the macro backdrop remains uncertain, SUI’s price behavior appears primarily technical: the $3.20 breakdown triggered cascading stop-losses and panic selling, while psychological support near $3.00 has temporarily stemmed the decline.
Volume patterns suggest cautious accumulation, with a notable spike at 14:00 UTC when over 1.2 million tokens changed hands. However, unless buyers can reclaim key resistance levels, the current bounce may prove short-lived. A confirmed close above $3.05 would be the first step toward invalidating the current downtrend.
Technical Analysis Highlights
- UI dropped from $3.343 to $2.9556 in 24 hours, a 12.9% decline before partial recovery.
- Sell pressure intensified after the $3.20 breakdown at 00:00 UTC, with 50M+ tokens traded.
- Price has stabilized in a $3.00–$3.05 consolidation band.
- A minor recovery lifted price from $2.997 to $3.017 in the most recent hour.
- Volume at 14:00 UTC topped 1.2M, signaling short-term accumulation near support.
- Resistance sits at $3.05; support remains firm at $2.94.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
Siamak Masnavi is a researcher specializing in blockchain technology, cryptocurrency regulations, and macroeconomic trends shaping the crypto market. He holds a PhD in computer science from the University of London and began his career in software development, including four years in the banking industry in the City of London and Zurich. In April 2018, Siamak transitioned to writing about cryptocurrency news, focusing on journalism until January 2025, when he shifted exclusively to research on the aforementioned topics.
CoinDesk Analytics is CoinDesk’s AI-powered tool that, with the help of human reporters, generates market data analysis, price movement reports, and financial content focused on cryptocurrency and blockchain markets.
All content produced by CoinDesk Analytics is undergoes human editing by CoinDesk’s editorial team before publication. The tool synthesizes market data and information from CoinDesk Data and other sources to create timely market reports, with all external sources clearly attributed within each article.
CoinDesk Analytics operates under CoinDesk’s AI content guidelines, which prioritize accuracy, transparency, and editorial oversight. Learn more about CoinDesk’s approach to AI-generated content in our AI policy.
