Technical Analysis

8 min read

SUI Price Action Hints at Reversal After 37-Day Slide Shows Signs of Bottoming

Published June 19, 2025 9:59 AM

By Valdrin Tahiri

Edited by Ryan James

When Will the SUI Correction End? | Credit: Derek Fenech

Key Takeaways

The SUI price trades inside the $2.70 horizontal support area.
SUI’s price has fallen by 37% since its $4.30 high on May 12.
When will SUI’s correction end, and how strong will the bounce be?

SUI was one of the best-performing crypto assets in April, doubling after its $1.71 lows.

While the rally continued until May 12, SUI has corrected significantly since, losing some of its previous gains.

However, the SUI price has reached a confluence of support levels that could mark the end of its correction.

SUI Price Analysis

The daily time frame shows that the SUI price has increased since April 7, accelerating its rate of increase on April 21.

SUI broke out from the $2.70 horizontal resistance area, reaching a high of $4.30 on May 12.

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However, the SUI price has been mired in a prolonged downward trend since then, reaching the $2.70 horizontal support area today.

Besides being the previous breakout level, the area now coincides with the 0.618 Fibonacci retracement support level.

Finally, the SUI price trades at the support trend line of a descending parallel channel, creating a trifecta of critical support levels.

SUI Price Movement — SUI/USDT Daily Chart | Credit: Valdrin Tahiri/TradingView

Next, the Relative Strength Index (RSI) has generated a bullish divergence (orange), a strong sign of a bullish trend reversal.

Though, the MACD has not generated a similar divergence, failing to confirm the future trends direction.

Therefore, the daily time frame shows that SUI trades inside a optimal area for a trend reversal, though the coin has not shown enough signs to confirm this reversal.

SUI Correction Over?

Similarly to the price action, the wave count suggests SUI is nearing the end of its correction.

According to the count, SUI completed a five-wave upward movement between April 7 and May 12.

The shape of the increase suggests the long-term trend is bullish, while the decline is corrective, as outlined by the declining channel.

SUI Count — SUI/USDT Daily Chart | Credit: Valdrin Tahiri/TradingView

The only issue with the count is that the only corrective structure that fits is a complex, W-X-Y-X-Z structure, which while valid, does not often transpire in the markets.

Nevertheless, the current support area is optimal for a bottom formation, giving credence to the bullish prediction that SUI’s price has completed its correction.

Bottom Formation

The SUI price correction ongoing for 38 days is nearing its end.

SUI trades at a confluence of support levels and inside a corrective pattern.

There is a valid corrective structure that has finished pointing to a significant rally soon.

Valdrin Tahiri is a cryptocurrency analyst and reporter at CCN, specializing in technical analysis with a focus on Elliott Wave theory, on-chain metrics, and fundamental research. He brings over seven years of experience in the crypto space as both a trader and writer. He discovered cryptocurrencies in 2017 while earning his MSc in Financial Markets at the Barcelona School of Economics, which sparked a deep interest in blockchain and market dynamics. Since then, he’s contributed to top crypto outlets like BeInCrypto and CoinGape. Valdrin also served as Community Manager of BeInCrypto’s Telegram group for three years, helping grow it into one of the largest crypto communities worldwide. His expertise in market structure and price patterns allows him to break down complex trends into clear, actionable insights. He’s published thousands of articles covering altcoins, Bitcoin cycles, and macro trends.

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