The SUI token price has shown a 2.66% decline in the past 24 hours, falling below the $2 psychological mark. The current price is $1.92 with a market cap of $5.30 billion. Let's review the current price dynamics and the status of the SUI network.

SUI Price Analysis

On the daily chart, the SUI token shows a rounding bottom reversal, reaching the neckline at $2.07. However, the higher price rejection near the neckline results in an evening star pattern, starting with a 1.51% drop yesterday. The 50-day, 100-day, and 200-day EMAs maintain a positive trend in a bullish alignment, providing support. Meanwhile, the MACD and signal lines show uncertainty.

SUI Network Health

Despite the minor intraday pullback in SUI price, SUIscan reveals overall healthy network activity. The total transaction blocks increased by 28.55 million in the past 24 hours, currently standing at 2.21 billion blocks. Total transactions also rose by 61.185 million, hitting 5.362 billion. The average number of transactions per day is 341, and the number of new accounts has increased by 14% over the past seven days.

SUI Price Prospects

The intraday candle shows a 3.50% drop, forming a bearish trend. Based on Fibonacci levels, the reverse occurs near the next support at 78.60% at $1.74. The next support is expected around the $1.50 psychological level. In a bullish continuation, the neckline breakout will likely result in a 50% hike to reach the 1.618 Fibonacci level at the $3.00 mark.

Thus, the SUI market remains in the spotlight with its current dynamics and prospects. How the unfolding situation will influence further price movements remains an open question.