SUI slips toward its lowest levels in months | Credit: Hameem Sarwar
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Key Takeaways
SUI coin price nears $1 as bearish momentum and volume rises.
Indicators reveal intense selling pressure, as evidenced by the CMF.
A break below $1 is likely unless SUI bulls reclaim key resistance.
SUI’s latest pullback has brought the price dangerously close to the $1 threshold, and one more sell-off may be enough to push it below this psychological barrier
As it stands, the altcoin shows strong bearish signals, with trading volume surging by 44.19%.
Over the past 24 hours, SUI’s price has crashed, with the coin decreasing by 15.18%.
Could the cryptocurrency’s next move finally break the $1 barrier to the downside?
SUI Signals Further Downsides
The 4-hour chart shows SUI’s Chaikin Money Flow (CMF) at -0.23, signaling that capital is flowing. It also indicates that sellers are outpacing buyers.
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Looking at the daily chart, CCN confirms a clear downtrend, with SUI currently trading at $1.39.
The cryptocurrency currently trades below its 20-day Exponential Moving Average (EMA), which previously served as a key support level.
This suggests that short-term momentum remains firmly bearish, and any attempts to rally may meet immediate selling pressure near the EMA.
Adding weight to this trend, the Moving Average Convergence Divergence (MACD) sits in negative territory.
SUI’s MACD reads -0.024, with expanding red histogram bars emphasizing strong bearish momentum. At the time of writing, the 26 EMA has crossed below the 12 EMA, signaling that sellers are increasingly in control.
Fibonacci retracement levels provide further insight into SUI’s potential trajectory. The cryptocurrency is hovering near the 0 Fib line at $1.32, matching its September 2024 low.
While buyers briefly pushed SUI’s price above this level, the token continues to struggle to maintain upward momentum.
Sellers currently hold the stronger hand, and they could decisively validate the SUI price crash below the 0 Fib level, potentially pushing it as low as $1.
However, a close above the 0.236 Fib level at $1.97 could suggest a trend reversal. But for now, SUI’s price appears to be moving downward.
Analysts Predict Rebound
Meanwhile, some analysts remain optimistic, interpreting the current price as a phase of accumulation that could precede a rally.
“SUI is pushing back into a key region after sweeping the lows. If we can close strongly this week, it would indicate more upside. In the short term, I am looking for a reclaim of $2.20. As ever, eyes are on attractive areas below market where I will add to my position.” James, a crypto trader, shared on X.
Psuedonymous trader Xmario supported the above thesis, saying SUI might soon make a comeback.
“SUI just faked everyone out. What looked like a brutal breakdown is now turning into a massive trap. Price slammed into the $1.50 zone and suddenly started showing early signs of a comeback. The chart is screaming one thing: SUI might be gearing up for a trend reversal while everyone thinks it’s going lower.” Another trader, Xmario, added.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
