SUI Experiences 6% Overnight Decline, Stabilizes at Key $3.40 Support

SUI Drops 6% Overnight but Finds Firm Footing at $3.40 Support

During overnight trading, SUI took a 6% hit, sliding from $3.59 down to a low of $3.38 amid broader market turbulence. Despite the sharp decline, buyers emerged around the $3.40 support level, helping to cushion further losses.

Volume surged to 24.8 million units — more than triple the average hourly volume — highlighting intense trading activity. Following the sell-off, the token showed signs of recovery, forming an ascending channel with resistance near $3.50, though selling pressure capped gains.

Price fluctuations between $3.43 and $3.44 suggest a cautious market as traders weigh recent volatility. Meanwhile, the Sui network community backed Cetus Protocol’s recovery efforts post-hack, approving asset unfreezing and compensation plans, reinforcing confidence in the platform’s resilience.