In this video: We analyse SUI on 30 October 2026 using Elliott Wave, with the support zone at $0.7325 to $0.8271 as the area where the bulls need to react. Video by More Crypto Online.
SUI only formed a three-wave move up from the August low, and without five waves up there is no clear bullish structure, so the risk of another low remains very high. The correction has extended with the Binance hack, and the price is testing the 61.8% retracement. On the smaller time frame the C wave projects to about $0.67 to $0.76. The yellow bullish count toward the $7 area remains possible long-term, but with low confidence.
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• Macro Fallout from Exchange Exploit: Much like the rest of the altcoin landscape, SUI's sudden plunge was heavily driven by systematic panic surrounding a multi-billion-dollar security breach at Binance. Market liquidity thinned drastically, leaving SUI vulnerable to long-squeeze liquidations, though it has since seen a minor 7% localized bounce back up from its absolute lows.
• Mysten Labs Integrates Stablecoin Gas Payments: On the fundamental side, SUI continues to build out core utility. Mysten Labs announced that its Slush Wallet now officially supports paying network transaction fees directly with stablecoins. This update removes the friction of holding native SUI tokens just to make everyday transactions, a move aimed at driving mainstream protocol adoption.
• Massive Multi-Token Unlock Overhang: Adding to the sell-side headwinds, a scheduled $47.12 million multi-token unlock event spanning October 29 through November 1 is currently active. The influx of newly unlocked tokens hitting the float—alongside broader ecosystem capital outflows—has severely diluted immediate demand.
Probability over emotion, being the casino instead of the gambler, and why following the charts beat chasing fear and greed.
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