<p><strong>Date:</strong> Wed, Oct 23, 2024, 06:14 AM GMT</p><p>The cryptocurrency market is known for its fluctuations, and Bitcoin (BTC) is at the heart of many of these changes. Recently, BTC took a sharp turn from its peak near $70,000, causing major altcoins, including Sui (SUI), to dip in value.</p><h2 id="header-0">Recent Performance of SUI</h2><p>SUI, the a strong contender in the altcoin space earlier this month, has not fared well lately. Over the past week, its price dropped by more than 5%. After reaching an all-time high of $2.37 on October 13, SUI has fallen nearly 20% to its current price of $1.92. This decline can be attributed to a correction following a <a href="https://coinsprobe.com/altcoins-on-the-rise-sui-and-kaspa-lead-the-charge-for-2024-gains/" rel="noopener noreferrer nofollow">significant rally </a>of over 100%. Despite this downturn, SUI still boasts around 20% gains over the past 30 days.</p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/5231ea7d65114751bbcd3304460a5a38.png" />Source: Coinmarketcap</p><h2 id="header-1">SUI Holds Key Support</h2><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/a88ed5b214be44d08bb989eb3cfea744.png" /></p><p>The recent dip has brought SUI to a crucial support level of $1.90. After rejecting a resistance level of $2.14, SUI has shown signs of strength by bouncing back and trading at $1.93. If SUI can maintain this support, it may aim for the resistance at $2.14, which is over 10% higher. However, if the price declines further, it might test the next support level around $1.72.</p><h2 id="header-2">Can It Maintain This Level?</h2><p>At this point, SUI appears to be holding steady at its support level, but all eyes are on Bitcoin, which remains under pressure around the $67,000 mark. For altcoins like SUI to maintain their positions, BTC must stay above $66,500. If BTC manages to rise back toward the $70,000 level, altcoins, including SUI, could see a recovery in their prices.</p><p><strong>Disclaimer</strong>: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.</p><p><strong>Also Read: </strong><a href="https://coinsprobe.com/top-gaming-tokens-pixel-ygg-and-portal-gains-bullish-momentum-key-levels-to-watch/" rel="noopener noreferrer nofollow">Top Gaming Tokens PIXEL, YGG and PORTAL Gains Bullish Momentum: Key Levels To Watch.</a></p>

SUI Holds Key Support After Significant Weekly Decline – Can It Maintain This Level?

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