Sui has slipped below $1 as traders weigh a possible rebound from support against weakening daily momentum, with analysts identifying $1.05 as the first major test of a recovery.
Summary
- SUI traded near $0.99 on October 20, down 0.47% in 24 hours and 5.6% over seven days.
- Analyst Michaël van de Poppe identified $1.05 as a key resistance level for a possible recovery.
- Technical indicators show bearish momentum, with the MACD below its signal line and SUI trading under its 20-day moving average.
- Giannis Andreou identified 0.82–0.88 as a potential support zone before another recovery attempt.
- Samsung Wallet’s upcoming USDC integration and Sui’s offchain throughput test add network developments to monitor.
According to crypto.news market data, SUI traded at $0.990355 at press time, down 0.47% over 24 hours and 5.6% over the previous seven days. The token traded between $0.976424 and $1.01 during the session, while reported daily volume stood at $357 million.
Notably, its monthly gain of 21.01% contrasts with a 62.4% decline over the past year. SUI’s market capitalization was approximately $4.08 billion, based on 4.12 billion circulating tokens, making its short-term price recovery a different question from its longer-term performance.
Sui price tests support after a 20% correction
Crypto analyst Michaël van de Poppe said SUI may have completed its correction after falling from around $1.25 to $0.95. The decline amounts to 24% when measured against those two price points, larger than Bitcoin’s roughly 10% pullback cited in his October 20 commentary.
“$SUI might have finalized its correction already,” he wrote on X, while acknowledging that Bitcoin’s weakness has dragged down altcoins. He identified $1.05 as the level bulls would need to reclaim before a stronger reversal could gain credibility.
Van de Poppe described support near current prices as significant, but his forecast remains conditional. A brief move above $1 would not by itself confirm that the downtrend has ended, especially with selling pressure still visible on the daily chart.
Another analyst, Giannis Andreou, outlined a different route to a recovery. His scenario allows SUI to retest 0.82–0.88 first, establish a higher low and then challenge the larger descending resistance line.
If buyers defend that zone and confirm a breakout, Andreou identified 1.25–1.32 and 1.38–1.45 as possible subsequent levels. Losing $0.82 would instead expose the 0.65–0.72 support region in his analysis.
Technical indicators keep $1.05 in focus
The daily-chart readings show SUI below its 20-day simple moving average of $1.0847. Its Bollinger Bands place lower support around $0.9288 and upper resistance near $1.2407.
Momentum readings lean bearish. The moving average convergence divergence line stood at -0.0043, below its 0.0189 signal line, leaving the histogram at -0.0232. That configuration indicates that downward price momentum has not yet been reversed.
The nearby 0.95–0.93 area is therefore the first support range to watch. A daily close below it would bring the 0.85–0.90 region into view, while further weakness could open the way toward 0.70–0.75.
On the upside, buyers first face 1.00–1.05. A sustained move through $1.05 followed by a daily close above the $1.0847 moving average would give traders stronger evidence of stabilization. The next resistance areas sit at $1.10 and 1.20–1.24.
These are chart-based scenarios, not price targets backed by guaranteed buying activity. The indicators were supplied for this reporting snapshot and will change as new candles develop.
Samsung Wallet deal expands USDC access on Sui
Away from the charts, Sui’s payment announcements provide a separate measure of network development. On October 8, the foundation announced a Samsung Wallet integration intended to bring USDC transfers using Sui infrastructure to compatible Galaxy devices in the United States.
The companies cited 82 million eligible devices as their potential reach, not 82 million active users. The feature is scheduled to launch later in October, with access subject to device, identity and regional requirements. Samsung said transfers to eligible overseas bank accounts would depend on the destination and applicable service fees.
Samsung Wallet will support USDC at launch, not the SUI token. Sui’s existing gasless transfer feature lets eligible users move supported stablecoins without first acquiring SUI for transaction fees.
“Samsung puts USDC on Sui in the hands of Galaxy users in the U.S.,” Mysten Labs co-founder Adeniyi Abiodun said in the original announcement. Actual network activity following the rollout has yet to be established.
In earlier coverage, the publication detailed the planned Samsung Wallet transfers and the limits on who can participate. A separate report examined Sui’s October 7 performance, which recorded more than 40 million transactions per second inside programmable offchain tunnels.
Token buybacks and network activity remain separate from price
Sui’s foundation has described a plan to direct yield from its native stablecoin, USDsui, toward token repurchases and decentralized-finance liquidity. That policy differs from simply announcing a future buyback: actual purchases require available revenue and onchain execution.
The claim that 923,000 SUI have already been repurchased this year was circulating in market commentary, but a transaction-level reconciliation was not available for this report. The figure is therefore not treated as a confirmed measure of current buying pressure.
The October demonstration reached 40,614,180 transactions per second in programmable tunnels, according to Sui. Those interactions were conducted offchain and settled to the network when channels closed; they were not 40 million individual mainnet transactions each second.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
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