Pearl
Ondo
Ethereum
Bitway
Derive
Pudgy Penguins
NEAR Protocol
Key Insights:
- Sui risks breaking below $2.77, signaling a potential bearish downturn.
- Daily active addresses on Sui have nearly doubled compared to BASE.
- Trading volume surges to $2 billion, indicating heightened market volatility.
Sui (SUI) price was at a critical juncture. Moving ahead, it tested a key support level that could decide its next big move. The token saw a 6% pump in the past 24 hours.
Technical indicators, however, point to the possibility of bears gaining ground. That might be evident if SUI crypto doesn’t stay above its critical support at $2.77. Traders are closely watching whether Sui can resist selling pressure or if a breakdown is inevitable.
Sui Price Bearish Head-and-Shoulders Pattern Spells Trouble
Sui price chart has flashed a textbook head-and-shoulders formation. It is a pattern known for signaling bearish reversals. The $2.77 neckline was a crucial support level; a sharp drop could follow if Sui breaks below it.
If sellers push the price under $2.77, SUI crypto could rapidly decline toward $2.50 and potentially $2.30. This bearish scenario comes from measuring the pattern’s height and projecting it downward.
So far, traders have stepped in to keep Sui above this danger zone. However, the threat of a breakdown remains high. A bigger sell-off could soon hit if buyers don’t appear in force.
The $1.5 Billion Bybit hack has rattled the market. This caused panic selling across major altcoins, including Ethereum and Solana.
Sui price itself is down 5% in 24 hours, trading at $2.85, and has dropped 13% over the past week. However, its long-term growth remains impressive, with the Sui Network expanding rapidly and attracting more users.
Despite the downturn, SUI crypto has still gained 76% over the past year. This proved that investors haven’t completely abandoned the project.
At the same time, Sui’s network activity is exploding. According to Crypto Banter, the daily active addresses have almost doubled those on BASE. This could fuel renewed investor interest, but will it be enough to stop a steep correction?
Will Sui Rebound or Sink to New Lows?
Sui’s trading volume has surged to $2 Billion, up nearly 20%, suggesting that volatility is about to hit. The token could stage a strong rebound or face another leg down.
If Sui price holds above $2.77, a short-term bounce toward $3.20 or even $3.50 could be in play. However, the next stop could be $2.50 or lower if it breaks below support.
The U.S. government has announced it will levy 25% tariffs on Mexico and Canada. This move has rattled financial markets and could impact risk assets like crypto. With uncertainty growing, traders are cautious about making big moves.
Final Verdict
SUI crypto was caught between growing network adoption and bearish technical signals. On the one hand, daily active addresses are exploding, showing strong ecosystem growth.
However, on the other, the head-and-shoulders pattern is warning of a deeper price drop. If Sui price holds $2.77, a recovery rally could push prices back above $3.20. Meanwhile, the next stop could be $2.50 or even $2.30 if it breaks down.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
