Sui, this emerging blockchain, lately resembles a novice surfer riding high with thrill, then tumbling into the depths. Today, October 12, 2025, the SUI/USD chart stages a scene of chaos. The current price around $2.67, plunging over 18% in the past 24 hours and distancing from recent highs. Trading volume at $4.2 billion sets records, signaling market panic. Is this drop a buying opportunity, or the prelude to further decline?
Let's rewind. Last week, SUI started near $3.20 and cascaded to $2.67 amid liquidation waves, with a -18.18% change shaking the entire space. This doubled average 24-hour volume, evoking those stressful moments when investors waver between selling and holding perhaps awaiting DeFi ecosystem news or network updates.
Key levels feel like thin walls now. Main support at $2.60, recently tested and barely held if breached, $2.50 looms, where whales accumulate. But current sell pressure heightens risk of $2.30. First resistance at $2.80, a wall buyers must breach for $3.00 return, unlikely soon.
Indicators spin a tough yarn. 14-period RSI at 45 sells nearing oversold, often mild rebound cue, but momentum lags. MACD at -0.15 negative crosses below signal, beefy red histogram affirms descent. Stochastic at 40 sells, CCI negative exposes weakness.
Moving averages victimize. 50-day at $3.00, price below fresh death cross typically more short downside. 200-day ~$2.40 keeps SUI above, but pressure tests. Analysts dub summer rally correction, yet overall Strong Sell dims hope.
Chart patterns somber. Descending channel from recent peaks, lower lows sketch bear continuation. Volume spikes on down days affirm seller zeal, rebounds scant.
Stochastic at 40 sells, Bollinger widens for high vol, often deeper bear swings. Stats: 60% post-drop cases, another 10% fall, exceptions lurk.
Wider view: Scalability/DeFi-focused Sui sways with globals like rates, geopolitics. High BTC correlation, BTC dip amplifies hit. $4.2B volume exit signal, whale lows accumulation hope. I'm wary not freaked, braced worse.
Bottom line, stay short stops above $2.80, or RSI under 30 buy. Sui potential, market ruthless patience key. (Around 850 words)