Sui Price Slumps After Binance Delisting Amid Persistent Selling Pressure
Binance delisted the SUI/BNB spot trading pair on August 21, reducing liquidity and limiting user access to the Sui asset. Despite this, the ecosystem saw a boost in stablecoin supply, increasing from $330 million to $470 million after the Tether Hadron integration.
The removal of the trading pair resulted in reduced exchange support for Sui, which has been under persistent selling pressure. The price currently sits below its key moving averages, with technical indicators showing dominant sellers and a likely price range of $0.7182 to $0.8606 over the next two to three days.
Analysts note that the bearish momentum is confirmed by technical signals diverging from the positive outlook earlier this month. The Sui/USD pair trades below its MA-20, MA-50, and MA-200 on the daily chart, with momentum indicators such as MACD and ADX showing continued downside momentum.