The SUI token, one of 2025’s leading altcoins, faces a critical juncture as multiple analysts warn of a potential 30% price drop if key support levels fail to hold. Technical analysis reveals concerning patterns that could send the cryptocurrency below the crucial $3.00 mark.
Technical Analysis Points to Bearish Setup
After reaching a four-month high of $4.29, SUI has struggled to maintain momentum, trading sideways between $3.40-$4.00 throughout May. The situation deteriorated last week when the altcoin suffered a 14.2% decline, breaking below its established range and testing the $3.00 support level.
While SUI attempted a recovery early this week alongside broader market movements, reaching $3.20, the bounce proved short-lived. The token has since retreated to the $3.10-$3.15 range, suggesting underlying weakness in buyer demand.
Similar to recent price action seen in Solana, SUI’s technical structure shows concerning signs of deterioration at critical support levels.
Multiple Bearish Patterns Emerge
Prominent crypto analyst Carl Runefelt has identified a descending triangle pattern, with additional complexity added by a Head & Shoulders formation developing within the triangle. The pattern’s baseline rests at $3.10, making it a crucial level to watch.
According to Runefelt, a breakdown below the triangle could trigger a sharp decline, potentially pushing SUI toward the $2.00 level – representing a 35% drop from current prices. However, he notes that an upside breakout remains possible, with resistance at $4.20.
Long-term Outlook Remains Mixed
Despite near-term bearish signals, analyst Crypto Bullet maintains a longer-term bullish outlook, pointing to a rising wedge pattern that suggests potential targets in the $8-$10 range. This pattern has been developing since early 2024, with multiple tests of support and resistance boundaries.
Key Support Levels to Watch
- Primary Support: $3.00
- Secondary Support: $2.81 (mid-range)
- Critical Support: $2.33 (range low)
FAQ Section
Q: What is the immediate support level for SUI?
A: The immediate support lies at $3.00, with secondary support at $2.81.
Q: What’s the potential downside if support breaks?
A: Analysts project a possible 30% decline to $2.33 if current support levels fail.
Q: Is there any bullish scenario for SUI?
A: Yes, a breakout above $3.39 could trigger a rally toward previous highs near $4.20.
As of this writing, SUI trades at $3.08, showing a 2.3% decline over the past 24 hours. Traders should maintain strict risk management given the current technical setup and market conditions.