SUI Bulls: Price Dropped 20%, But Support Holds! 🤷‍♂️💥

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Sui (SUI) continues to captivate the attention of traders, who are now more invested in its price fluctuations than in their own life savings. Analysts, however, insist the overall structure is “still alive,” which is about as convincing as a magician who’s lost his rabbit.

SUI is currently trading around $2.7, down more than 20% on the week, but holding key support like a koala to a tree (which, ironically, is also a metaphor for desperation).

Price Holds Above Key Support Zone

On the weekly chart, SUI is supported by a support range above $2.63. The asset has formed a series of higher lows, which is a sign that buyers are still present during the dips. This pattern is as common as a Martian trying to find a Wi-Fi signal, and it often precedes breakout attempts that are about as likely as a penguin learning to fly.

Michaël van de Poppe noted that a similar setup appeared before the rally in late 2024. He pointed out that the current pattern “still shows strength,” with support levels remaining steady. So far, there is no break in the structure-unless you count the universe collapsing, which it isn’t.

SUI has repeatedly hit the $4.20 resistance level. In every instance, the price fell back, but the lows kept rising. This may indicate that resistance is losing its strength, although a breakout is still not on the cards-unless you’re a optimist, which is a rare species these days.

Van de Poppe wrote that “resistance becomes weaker” with this type of buildup. If SUI moves above $4.20 with volume, it could trigger a run toward new highs. Until then, the price remains in a sideways range between support and resistance-like a confused toddler in a supermarket.

Triangle Break Sparks Mixed Views

Lark Davis shared a different view after SUI dropped below a key trendline that had formed part of an ascending triangle. The breakdown happened during a sharp sell-off. That support line is now acting as resistance.

$SUI broke down from the ascending triangle in the flash crash

That old support trendline is now acting as resistance

If it reclaims that line and gets back inside the ascending triangle → bullish setup resumes.

If it gets rejected again, that would likely mean a deeper…

– Lark Davis (@TheCryptoLark) October 15, 2025

According to Davis, if SUI can move back into the triangle and hold, it may confirm a false breakdown. If not, he believes there is a risk of more downside, especially if the price fails to reclaim that zone. Which is about as reassuring as a GPS telling you to “turn left” while you’re on a cliff.

Network Activity and Institutional Growth

Van de Poppe also pointed to network growth as a factor in SUI’s long-term case. Grayscale has launched trusts tied to projects in the ecosystem. Stablecoin and BTC total value locked (TVL) on Sui has also risen in recent months.

Bluefin DEX, a decentralized exchange on Sui, reached record trading volume in October. Meanwhile, Sui partnered with Figure Technology to bring the YLDS token to the network. The token is backed by short-term Treasurys and repo agreements. Because nothing says “trust” like government bonds and repo deals.

The combination of steady support, ecosystem expansion, and early institutional steps continues to keep SUI on the radar for traders looking for potential upside. Which is about as exciting as watching a toddler’s growth spurt-impressive, but not exactly groundbreaking.

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2025-10-16 17:54