SUI is approaching $0.866, the 61.8% Fibonacci retracement that analysis firm More Crypto Online identifies as the lowest ideal support for wave (4). While the price tests that level, futures data shows where traders remain concentrated across major exchanges, with Binance leading volume at $172.84 million and Gate holding nearly $116 million in open interest. A break below $0.866 could weaken the proposed wave count, while a move above $0.935 would bring the next resistance into view.

SUI Approaches the $0.866 Support Level

In a post on X, More Crypto Online said SUI is nearing the 61.8% Fibonacci retracement at $0.866, describing it as the lowest ideal support for wave (4). The token's recent rally is being reversed, giving the level added significance.

Fibonacci retracement levels are projected from the size of a prior price swing, and the 61.8% ratio is among the most closely watched markers technical analysts use to judge whether a pullback stays within a normal corrective range. The wave (4) label comes from Elliott Wave analysis, a framework that structures trends into impulse and corrective phases, so how the token behaves at this level carries weight for the broader chart count.

The daily chart shows a downtrend stretching back to approximately $4 in late 2025. SUI kept declining through the first months of 2026 and settled into a lower trading range. A subsequent rally carried the token up to $1.70, but the buying was not sustained.

At the time of writing, SUI traded at $0.9143, with daily trading volume close to $300.16 million. The token gained 0.25% over 24 hours while losing 7.67% across seven days, meaning the daily rise came against a weaker weekly performance.

The 50% retracement sits near $0.935, above the $0.866 level. Should the decline continue, the chart places further support near $0.694 and $0.494, levels that would come into view if the current support fails.

Futures Data Shows Where Trading Concentrates

Coinglass data shows Binance recorded approximately $172.84 million in SUI futures volume, leading the listed exchanges. MEXC followed at $71.40 million, while OKX reached $63.08 million. Binance's reported volume was more than twice MEXC's figure.

Open interest showed a tighter contest between Binance and Gate. Binance held around $116.14 million, just above Gate's $115.95 million. MEXC followed with $95.62 million, while Bybit recorded $83.12 million.

The three metrics capture different activity. Futures volume measures the value of contracts changing hands, open interest tracks the total value of positions still open, and trade counts simply tally executions, which is why the same market can produce different leaderboards.

Trade counts produced a different ranking across the same market. BingX led with approximately 1.21 million trades, followed by Binance at 727,230. Bybit ranked third, with roughly 172,970 trades during the displayed period.

The liquidation chart recorded sharp bursts during several volatile sessions. A large red bar appeared around May 12, indicating heavy long liquidations, and further bursts emerged in August and September as SUI moved more sharply. Liquidations occur when leveraged positions are forcibly closed after losses breach margin requirements, which is why they cluster around the sessions with the sharpest price moves.

Resistance Levels Depend on the Support Test

The proposed wave count treats the current decline as a possible wave (4) correction. Holding $0.866 would keep that interpretation within the chart's preferred range, while a daily move below the level would require a fresh assessment of the count.

If buyers defend the support, $0.935 becomes the first level to reclaim. The chart then marks resistance near $1.028, followed by $1.322. Each level would need to be crossed before the previous high near $1.70 comes back into view.

The recent rally toward $1.70 remains the reference point for the pullback. SUI has surrendered part of that advance, and the price has yet to recover its former high. A sustained rebound would be needed to show that buyers have regained ground.

If $0.866 gives way, the next marked retracement sits around $0.694. The deeper level near $0.494 would become relevant if losses extend further, though neither figure guarantees that the price will reach it.

Because the wave assessment hinges on a daily move below $0.866, the coming daily closes offer a concrete marker to watch, alongside how volume and open interest on the leading venues evolve while the level is tested.

For now, the support test and the futures figures offer two different views of SUI. The price chart sets out the levels that could shape the next move, while exchange data shows where trading is concentrated. Whether $0.866 holds will determine if the proposed wave (4) structure remains viable.