Sui (SUI) is currently trading at $2.34, showing a slight decline of 1.54% over the last 24 hours. The daily price action has been constrained, with a high of $2.39 and a low of $2.29, resulting in a narrow daily range of just 0.1%.

Trading volume stands at approximately $570.61 million, indicating a robust engagement relative to its market capitalization, with a volume-to-market cap ratio of 6.62%. Short-term moving averages are mixed; the 8-hour SMA shows a minor uptick of 0.18%, while longer SMAs indicate downward pressure, with the 144-hour SMA down 4.11%.

The 1-hour RSI is at 41, suggesting that SUI is nearing oversold conditions in the short term. Meanwhile, the 7-day RSI at 44 indicates a lack of momentum, as the asset has experienced price drops of approximately 11.03% and 10.11% over the past week and two weeks, respectively.

Over the past month, SUI has seen a significant decline of around 34.63%, reflecting broader bearish trends in the market. Despite its all-time high of $5.35 recorded in January 2025, current price levels suggest a substantial distance from previous peaks, indicating bearish sentiment among traders.

Given the current technical indicators and the continued downtrend in both short and medium-term time frames, a cautious approach is warranted. The mixed signals from moving averages and RSI suggest a lack of strong buying momentum, which raises concerns about immediate upside potential.

Rating: Hold. The asset's current price action and indicators do not support a buy, as further confirmation of trend reversal is needed before considering a long position.