Sui (SUI) is trading near $0.98 as selling pressure persists across the altcoin market. Data from CoinGecko puts the token at $0.9796, down 2.74% over the past 24 hours and 10.74% over the past seven days, with 24-hour trading volume of $645,383,763.

Technical analysts are watching support levels as the token continues to print lower lows. More Crypto Online identifies $0.929 as the next critical support within a descending wedge pattern, while analyst Giannis Andreou's weekly analysis flags $0.85 to $0.86 as another important downside zone, with $0.66 marked as the chart's invalidation level.

Charts show SUI trading far below its previous highs above $5. The weekly decline extends a prolonged drawdown from those levels, and the major descending trendline identified on weekly charts remains overhead. Any recovery must clear several resistance levels before the broader bearish structure changes, and the immediate question is whether buyers can defend support or whether selling pressure pushes prices lower.

Why $0.929 Matters

More Crypto Online's analysis on X identifies $0.929 as the next support level for SUI. The accompanying one-hour Coinbase chart places the 50% Fibonacci retracement at approximately $0.9294. SUI was trading near $0.9868 on that chart, leaving support just below the observed price. Fibonacci retracement levels are widely used reference points that mark potential turning zones within a prior price swing, with the 50% level sitting at its midpoint.

$SUI Altcoins are still struggling and SUI is still forming lower lows. SUI is forming a descending wedge and the next support level is located at $0.929. pic.twitter.com/YrkhPbX79z

— More Crypto Online (@Morecryptoonl) October 18, 2026 (via X)

The post adds that altcoins remain under strain, with SUI continuing to form lower lows within the pattern. A descending wedge forms when price moves between downward-sloping trendlines that gradually converge. Traders monitor such formations for potential breakouts, although the pattern alone does not confirm a reversal, and SUI's string of lower lows indicates that sellers remain in control of the current price structure.

The $0.929 level therefore stands out as a nearby technical area to watch. A sustained move below it could expose lower support, although the supplied analysis does not establish a next downside target. Conversely, a recovery would require renewed buying pressure and breaks above resistance to strengthen the bullish case.

CoinGecko's figures reinforce the weakness visible on the charts. Volume provides context for overall market activity, but these numbers alone cannot establish whether selling pressure is about to ease.

Can Buyers Reclaim $1.04?

Giannis Andreou's weekly chart identifies $1.04 as the first resistance level SUI needs to reclaim. The latest weekly candle faced rejection near $1.14 before falling back below that threshold, and resistance at $1.34 presents the next major hurdle for any sustained recovery. On that timeframe, SUI is trading around $0.99 following the prolonged decline from above $5.

On the downside, Andreou highlights $0.85 to $0.86 as an immediate support zone. A sustained weekly close below this region would weaken the recovery scenario and expose the marked $0.66 invalidation level, the point at which the chart's recovery scenario would no longer apply. These levels represent chart-based scenarios rather than guaranteed price outcomes.

$SUI WEEKLY ANALYSIS: THE RECOVERY HAS SEVERAL LEVELS TO CLEAR $SUI is trading around $0.99 on this chart, following a prolonged decline from above $5. The major descending trendline remains overhead, so the broader bearish structure has not yet been reversed. The latest… pic.twitter.com/HwUGbjvQah

— Giannis Andreou (@gandreou007) October 17, 2026 (via X)

A stronger recovery would require SUI to reclaim $1.34 and establish support above it. The chart then identifies $1.80 and $2.35 as subsequent resistance levels, and a break above the descending trendline would provide additional evidence that the longer-term structure is improving.

Beyond $2.35, Andreou's chart marks $3.92 as another resistance level, followed by previous highs above $5. These targets belong to a longer-term bullish scenario rather than an established price trajectory.

The immediate distinction is between holding support and confirming a reversal. SUI must first navigate the $0.929 level highlighted by More Crypto Online and the lower $0.85 to $0.86 zone identified by Andreou. Until those resistance levels are reclaimed, the prevailing bearish structure remains intact.

SUI faces several technical hurdles despite the possibility of a recovery. Support near $0.929 is the immediate focus, while $1.04 and $1.34 are the key upside levels to monitor. The near-term picture therefore hinges on whether the identified support zones hold rather than on any confirmed reversal.