Overview
- SUI dropped to about $2.10, lagging the broader crypto selloff, as volume spiked 628% above the 24‑hour average during a breakdown through $2.16 on roughly 99.13 million tokens traded.
- Price briefly rebounded from $2.04 in a V-shaped move but stalled near $2.13 with fading volume, signaling weak near-term buying conviction.
- From an October peak near $3.50, SUI has retraced into the low‑$2 range; chart watchers cite RSI divergence and see a potential breakout only if momentum recovers and $3.50 is reclaimed, with some projecting a target near $7.60.
- The Mysticeti consensus upgrade is reported to cut transaction latency and improve scalability with near‑instant confirmations, which analysts say could bolster developer and user activity over time.
- A scheduled Dec. 1 unlock of about 43.92 million SUI is expected to test market absorption, with reported valuations varying around $105 million to $119 million and raising the risk of short‑term selling pressure.