Sui (SUI) is at a critical juncture as its $3.17 support level becomes crucial for maintaining bullish momentum amid market fluctuations. Despite recent pressure following its Robinhood listing, this support level aligns with the 62% Fibonacci retracement zone and an ascending trendline, making it a pivotal point for potential breakouts. Currently trading near $3.51, SUI has been fluctuating between $3.40 and $3.65. On-chain data shows sellers dominate short-term trading, but fundamentals remain strong with a 31% rise in market cap and a 44.3% increase in DeFi total value locked. Institutional backing from AMINA bank and Fireblocks, along with the launch of Grayscale SUI Trust, underscores SUI's long-term resilience. Analysts highlight the importance of maintaining the $3.17 level for potential rebounds and future rallies.