The post SUI Tests Support Near Lower Bollinger Band as Technical Momentum Weakens appeared on BitcoinEthereumNews.com.

Ted Hisokawa
Oct 19, 2025 06:53

Sui (SUI) trades at $2.49 after modest 2% daily gain, but remains well below key moving averages as technical indicators signal continued bearish momentum despite oversold conditions.

Quick Take • SUI trading at $2.49 (up 2.0% in 24h) • No major catalysts driving price action in past week • Testing lower Bollinger Band support zone around $2.15 • Following broader crypto market recovery with Bitcoin posting gains Market Events Driving Sui Price Movement Trading on technical factors in absence of major catalysts characterizes the current SUI price environment. No significant news events have emerged in the past 48 hours affecting Sui’s fundamentals or market positioning. The modest 2% daily gain appears driven by broader cryptocurrency market momentum, with Bitcoin posting positive returns that typically lift altcoin sentiment. The lack of Sui-specific developments has left traders focused purely on technical levels and correlation plays. Volume on Binance spot market reached $51.9 million in 24 hours, indicating moderate institutional interest despite the sideways price action. Market participants appear to be positioning around key technical inflection points rather than reacting to fundamental catalysts. SUI Technical Analysis: Oversold Bounce Attempt Price Action Context SUI price currently sits significantly below all major moving averages, with the 7-day SMA at $2.63 and longer-term averages ranging from $3.08 to $3.31. This positioning confirms the sustained bearish trend structure that has pressured the token in recent weeks. The current price of $2.49 represents a 20% discount to the 20-day moving average, suggesting oversold conditions from a momentum perspective. Bitcoin’s positive correlation continues to influence SUI movements, though the altcoin has underperformed the broader market recovery. Binance spot data shows SUI maintaining its trading range between $2.44 and $2.53, indicating consolidation near critical support levels.…

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Filed under: News - @ October 19, 2025 7:26 am