SUI’s price struggles near the $3.45 resistance zone despite a recent 2% rebound. Technical indicators suggest potential retest of the $3.03 support level as bearish signals intensify across multiple timeframes. Network TVL continues to recover, reaching $1.75 billion, while stablecoin market cap grows by 8%. However, SUI faces strong resistance at the key $3.45 barrier, indicating a potential downward trend. Recent price action shows a local resistance trendline forming after a decline to $3.03 last week, before attempting to overcome this declining boundary. Current price action is facing multiple obstacles, including support-turned-resistance zones between $3.33 and $3.44 alongside the 50-period EMA at $3.41. These converging bearish elements form a formidable barrier for recent recovery attempts. Technical indicators further bolster the bearish outlook. A negative crossover on the 100-period and 200-period EMAs would confirm extended selling pressure across medium-term timeframes, signaling a potentially weakening market. The RSI continues to struggle, with a high level of uncertainty despite today’s modest gains. This suggests that buyers lack the conviction needed for sustained recovery. Analysis suggests a likely retest of the $3.03 crucial support level if current resistance holds, triggering deeper correction toward the 50% Fibonacci level at $2.71. Conversely, a break above the 23.60% Fibonacci level at $3.45 could reinstate bullish trend prospects for SUI and target the $4.20 resistance level. However, multiple overhead barriers suggest this scenario faces significant execution challenges.