SUI, native to the Sui Network, recently experienced a 13% downtrend, pausing its previous bullish momentum. This dip, including a 5.3% decline in just 24 hours, has caused concern among investors and analysts alike.
SUI's decline followed insider allegations of $400 million in token sales, leading to bearish sentiment. Despite robust Q3 performance and hitting a new ATH, SUI lost its $2 support, dropping 18.4% from its ATH.
Analysts now forecast a further 25% to 30% correction, suggesting a retest of lower price levels around $1.4. A temporary pause in the broader market rally influences this, with strong September performers like SUI likely facing more setbacks before resuming any upward trend.
Despite this near-term bearish outlook, SUI's monthly figures remain strong with a 30.7% rise at $1.92. These price activities signal potential volatility ahead for the token as the broader market dynamics continue to unfold.
