Sui, this emerging Layer-One blockchain that is rapidly carving out its space in the decentralized finance (DeFi) ecosystem with its high transaction speed, unparalleled throughput, and low costs, perpetually brings with it a sense of excitement and high expectation within the crypto community. Sui, a leading platform, entered the field with the objective of resolving the major scaling and capacity issues prevalent in older blockchains. However, like any other digital asset in this volatile market, its price swings can be breathtaking and highly unpredictable, posing significant challenges to investors. Today, November 12, 2025, upon carefully examining the SUIUSD chart, I get the clear sense that Sui is undergoing a crucial and 'deep correction' the daily candle opened at $2.12 GMT and we are now observing a drop to $2.03. This 4.5% decline, at first glance, might appear alarming, but from a technical perspective, it seems more like a 'shakeout' or a cleansing of the market, liquidating weak hands and over-leveraged positions. To better understand the next move, we must meticulously examine the message conveyed by the technical analysis tools. We commence the analysis with the fundamental concepts that form the cornerstone of any accurate assessment: the support and resistance levels. These levels function like protective walls that prevent catastrophic price drops or as hurdles that impede upward movement. The key primary support (S1) is located at the $2.01 level. The daily Pivot Point is at $2.03, and the primary resistance (R1) is at $2.04. If the crucial $2.01 support is decisively breached and the price fails to consolidate above it, the psychological level of $2.00 which represents the recent low could be severely tested, facilitating a further decline to lower zones. The trading volume over the last 24 hours has been approximately $1.5 billion, which is considered an average volume. This average volume indicates that the market is not currently witnessing a 'panic sell rush' and that liquidity remains at a reasonable level. Momentum indicators also provide interesting data that corroborates the market condition. The 14-period Relative Strength Index (RSI) is positioned at 30.65. This number is extremely close to the 30 boundary, which is the region known as 'Oversold.' An oversold condition typically signifies that short-term sellers are exhausted and selling pressure is diminishing, a situation that significantly increases the probability of a short-term 'Rebound.' Conversely, the Moving Average Convergence Divergence (MACD) indicator, with a negative value of -0.028, issues a 'Sell' signal. However, the MACD histogram is weak and contracting, which indicates a weakening bearish momentum and the potential for an imminent price reversal. This contradiction between the RSI (indicating severe oversold conditions) and the MACD (indicating weak bearish momentum) illustrates that the market is oversold but holds strong potential for a shift and an upward corrective move. Moving Averages (MAs) currently paint a distinctly bearish picture. The 50-day Moving Average (MA50), which reflects the mid-term trend, is at $2.136, and the 200-day Moving Average (MA200), which defines the long-term trend, is at $2.073. With Sui's current price trading below both these moving averages, the overall trend signal in the short term is 'Bearish.' However, the price's proximity to the MA200 could act as both a psychological and technical support. Examining the Bollinger Bands reveals that the price has moved significantly close to the Lower Band. This situation, which aligns perfectly with the RSI's oversold signal, issues a classic 'Buy the Dip Signal' for risk-tolerant traders. For a broader perspective, we must consider Sui's performance since the beginning of 2025. The asset experienced a powerful bullish rally from the $1.50 levels, rising to $2.50. This growth was mainly driven by the successful launch of its Mainnet and a significant increase in the Total Value Locked (TVL) within its DeFi ecosystem. Some optimistic analysts, pointing to its technological advancements and robust roadmap, believe that Sui has the potential to reach $3.00 and beyond. Presently, however, risks related to the broader 'Bear Market Risks' and macroeconomic uncertainties are overshadowing the price. In the short term, the current technical state indicates a 'Strong Sell,' but the potential for an 'Oversold Rebound' must be immediately factored in. On the daily chart, a structure resembling a 'Descending Triangle' pattern is forming, characterized by horizontal support and a downward-sloping resistance at $2.04. A decisive break and consolidation below the $2.01 level could set the next bearish target at $1.95. The Fibonacci Retracement tool identifies the 61.8% correction level precisely in the $2.00 area, a level that is traditionally considered a strong and crucial 'Buy Zone.' Sui's correlation with Bitcoin (BTC) is notably high, meaning any significant BTC price drop could impact Sui with greater intensity. What catches the eye is Sui's relative 'Resilience' in bearish markets and its ability to maintain a high TVL. Advice for active traders is to await a clear 'Volume Spike' to confirm the next direction of movement. For short-term traders, two strategies can be considered: 1. Initiating a short position at the $2.04 resistance with a target of $2.01, or 2. Initiating a buy position in the $2.00 support area, setting a Stop-Loss below $1.95, and targeting a Take-Profit at $2.10. Ultimately, Sui is a blockchain with very high technological potential, but its price volatility is significant in this market phase. Current technical analyses indicate a 'Strong Sell' in the short term, but due to the RSI oversold condition, there is a strong possibility of a sudden and powerful bullish rebound. Always conduct your comprehensive research and manage risk intelligently.