SUI Plummets below Support, Bears Targeting $2.40

SUI has experienced a steep decline, plummeting below key support levels and indicating a shift toward a bearish trend. This selloff is now focused on the $2.40 zone as bears aggressively push down prices. A rejection near the $3.35 mark triggered a heavy sell-off, sending SUI to its current price of $2.99, erasing gains from early May. 7% decrease in value last week marked the largest drop since March, and with momentum continuing to dissipate, traders are looking for confirmation that the token can maintain its presence above the $2.57 mark. A decline below this level could accelerate losses towards the psychological $2.40 area.