The Sui token slipped below the US$2.00 psychological support level amid a sharp surge in trading volume. Despite the breakdown, a potential double-bottom reversal pattern is forming, suggesting a possible shift in short-term momentum for the Layer-1 blockchain asset.
SUI’s recent move reflects a notable shift in market dynamics. The token dropped from around US$2.03 to approximately US$1.98 in one session, breaching the technically and psychologically key US$2.00 threshold. The move was accompanied by a significant uptick in trading volume—around 180% above average—implying that large participants may be actively repositioning around this level. This volume surge strengthens the significance of the break.
After the initial breakdown, SUI attempted a bounce near the US$1.96 mark but was rejected at around US$2.05. However, a closer look at shorter-term charts reveals a possible reversal pattern: the token appears to have formed a double-bottom near US$1.952 on the 60-minute chart, followed by a late session recovery to about US$1.978. If this holds, the double-bottom could signal a trend change from bearish to neutral or even bullish.
Support broken, volume surges and a reversal in the making
In terms of structure, the new support zone lies between US$1.93 and US$1.96, with the immediate resistance now around US$2.05. Traders will be watching whether SUI can reclaim levels above roughly US$1.97 to validate the reversal. Conversely, a break below US$1.93 could open the door to deeper correction.
Strategically, the significance of SUI’s move lies in both the breakdown and the reversal possibility. A breach of a major support in a volatile environment can trigger stop-loss cascades and accelerated selling. But the spike in volume and the formation of the double-bottom suggest that accumulation or repositioning may be underway. If participants interpret this as a reset point, then SUI could mobilize into a recovery phase rather than a prolonged decline.
However, risks remain. Overall crypto market sentiment is under pressure, major assets are weak, and macro headwinds persist. For a token like SUI, which depends on ecosystem growth and momentum, these factors matter. The emerging reversal pattern provides a blueprint for upside, but the foundation is not guaranteed.
In summary: SUI’s breach of US$2.00 is worrisome, yet the volume surge and reversal pattern give hope for a bounce. The next 24-48 hours will likely determine whether the token begins to mount a recovery or continues to test lower ground.
