Sui (SUI) is currently priced at $1.58, experiencing a significant decline of 11.14% over the past 24 hours. The daily trading range has been tight, fluctuating between a high of $1.79 and a low of $1.56, indicating increased selling pressure as the price remains below key moving averages.

Trading volume stands at approximately $1.05 billion, which represents a 17.62% ratio to market capitalization. This volume suggests active trading, but the price drop implies that bearish sentiment is dominating the market, leading to questions about support levels.

The short-term moving averages are indicating a bearish trend, with the 8-period SMA at $1.62 showing a decline of 2.52% and the 55-period SMA at $1.76 down 10.31%. The 144-period SMA at $1.79 is also down 11.87%, reflecting a consistent downtrend across multiple time frames.

The 1-hour RSI at 20 indicates oversold conditions, suggesting a potential reversal, but the 7-day RSI at 43 shows that the asset remains in a bearish trend. Additionally, the 7-day and 14-day price changes reflect declines of 11.82% and 5.98%, respectively, while the 30-day price change is a modest gain of 7.12%, indicating recent volatility but overall weakness.

Despite the potential for a short-term bounce given the oversold RSI, the prevailing trend is bearish, and resistance levels are significantly above the current price. Given these technical indicators and the recent price action, the recommendation is to Hold SUI at this stage to reassess after a potential stabilization or reversal.