The cryptocurrency SUI has experienced a significant price decline, dropping from its all-time high of $5.36. The altcoin is currently trading at a monthly low and faces the potential for further drawdowns. The Relative Strength Index (RSI) indicates bearish momentum dominating SUI's price action, suggesting that a recovery in the immediate term is unlikely. However, traders remain cautiously optimistic about the cryptocurrency's recovery prospects. Despite the downturn, SUI's funding rate remains positive, indicating lingering optimism among traders and providing some stability for the token. SUI's price has dropped by 22% over the last nine days and currently trades at $3.87. Holding the critical support level at $3.69 is essential to prevent further downside, but reclaiming $4.05 as a support level could potentially set the stage for a recovery and restore investor confidence.



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