From Coinpedia · By Sahana Vibhute
Story HighlightsThe support around $0.8415 remains critical; holding this level could keep a recovery towards the psychological mark at $1
Declining derivatives and persistent negative CVD highlight weak demand, marking fresh buying pressure essential for a sustained bullish reversal
SUI price has remained under strong bearish pressure since the start of Q4 2026, which has dragged the price from around $1.30 to $0.82. By the end of the month, the price managed to pause the declining trend and is approaching a critical point. After failing to sustain its October recovery, SUI has slipped back towards $0.90, raising questions about whether buyers can regain control and make another attempt at the psychologically important mark at $1.
Advertisement Can Buyers Defend the $0.84 Support?
The SUI price chart reflects a weakening price structure, with the token gradually losing ground after failing to sustain the local high. Currently, the token is trading around $0.8927, down by 1.10%, bringing the price closer to the crucial horizontal support at $0.8415. This level is pretty important, as it previously acted as a support floor during earlier consolidation periods. A sustained defence of this region could provide buyers with an opportunity to stabilise the price and attempt a recovery towards $0.90.
The volume indicators offer a mixed picture. The CVD reading stands at nearly 2.6 million, suggesting that aggressive market selling outweighed buying during the latest session. Meanwhile, the CMF indicator remains marginally positive at 0.03, indicating that buying pressure has not disappeared entirely. This combination does not point to a confirmed reversal but suggests SUI is approaching an important support test as buyers struggle to gain momentum.
A daily close below $0.8415 could expose the token to further downside, while a sustained recovery above $0.90 would indicate improving price action.
SUI Derivative Analysis: Is Selling Pressure Still Dominating?
While the daily chart highlights the growing pressure on SUI’s price, derivatives data offers further insight into how traders are positioning themselves amid the decline. Aggregated open interest has dropped to nearly $255.64 million, down considerably from its October peak of more than $400 million. This decline suggests that traders have been reducing their exposure as price declines.
On the other hand, the funding rates remain positive, indicating that long positions are paying shorts and the bullish positioning has not entirely disappeared despite the weakening price structure. Besides, the aggregated spot CVD and futures CVD have both maintained a downward trajectory, suggesting that aggressive selling has continued across spot and futures markets. Demand in the spot market also appears weak, making it harder for SUI to establish a sustainable recovery.