Surprise Market Slide! SUI Crashes Through Support on Monster Volume Surge

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Markets

What to know:

  • SUI took a nosedive-down 3.4% Tuesday, crashing below the ever-critical $2.60 support, with volume exploding, probably thanks to some institutional selling. Who’s buying, though? Certainly not your average retail traders!
  • The dramatic descent began around 14:00 ET, when a stunning 2.7M tokens exchanged hands in just one minute during a late-afternoon panic sell-off. Talk about a rush!
  • The CoinDesk CD5 Index also felt the pinch, falling 1.67%, slipping under $2,000 as the broader crypto world lost its earlier steam. We were all feeling optimistic… then reality set in.

SUI slipped 3.4% in the last 24 hours, from $2.62 to $2.53 after a delightful late-day breakdown, which only gained momentum thanks to a surge in volume-oh, the sweet sound of institutional panic.

That $2.60 support level, the one we were all watching like hawks, crumbled under pressure. CoinDesk Analytics caught the whole tragic scene unfold.

The moment of truth came when volume soared past 25.4 million-an absolutely ridiculous 180% of the 24-hour average. It’s like a herd of angry bulls stampeding through the market, with no one even bothering to ask why.

As the day dragged on, the bearish vibe grew stronger. A rejection at $2.577 was followed by a swift plunge to $2.527. In a single minute, nearly 2.7 million tokens were traded-pure chaos, triggered by algorithmic sell bots and maybe a few panic-stricken stop-loss orders. If you blinked, you missed it.

The charts, of course, didn’t lie: lower highs, lower lows, rinse and repeat. Every attempt to climb above $2.60 was swiftly thwarted by resistance at $2.66. Sellers were on full throttle, reinforcing that upper boundary with no mercy.

And-surprise, surprise-there was no major news or fundamental reason for this debacle. The price was on a wild ride, led entirely by technical breakdowns. If you were looking for a panic attack from retail investors, you’re out of luck. This was systematic selling in all its glory.

Now traders are nervously eyeing support near the $2.50 zone, while resistance remains steadfast at $2.577 and $2.66. Good luck trying to break through that one.

The broader market isn’t faring much better. The CoinDesk CD5 Index dropped 1.67%, sinking below the psychological $2,000 level. This after a brief flirtation with $2,040. Ah, the sweet taste of fleeting optimism.

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2025-10-29 00:52