- SUI is retesting a crucial $3.10 support after an 8% drop, leaving traders watching for a bounce or breakdown.
- Analysts suggest a rebound could target $4–$7, while failure risks a fall toward $2.40.
SUI is facing a critical test as it retests a major support level following an 8% daily decline. The cryptocurrency now stands at a make-or-break point that could determine whether it regains bullish strength or faces a deeper correction.
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SUI Hits Two-Month Low
On Thursday, SUI slipped nearly 8%, falling from $3.40 to $3.15, its lowest point in two months. This decline comes amid broader market weakness that has also pushed leading assets like ethereum to fresh multi-week lows. Over the past week alone, SUI has lost more than 21%, threatening to undo much of its strong three-month rally earlier this year.
Despite repeated attempts, the altcoin has struggled to stay above the $3.80 mark. Market analysts note that SUI has been stuck in a range between $3.10 and $4.30 since May, with multiple failed breakout attempts. This long consolidation signals that a major move could be brewing.
Make-or-Break Technical Pattern
Adding to the tension, SUI is also retesting the lower boundary of an ascending triangle pattern on higher timeframes. This structure, considered bullish, has guided the price action for months, with the $4.00 level acting as resistance and the $3.10 level serving as rising support.
According to crypto analyst Ali Martinez, a successful breakout above $4 could propel SUI back toward its all-time high of $5.35, potentially unlocking a rally toward the $7 mark. However, a failure to hold the crucial $3.10 support would invalidate this bullish setup and risk a drop into the $2.40–$2.90 zone.
Analysts Split on Next Move
Traders remain divided on what comes next. Some, like Daan Crypto Trades, believe SUI’s prolonged consolidation makes it ripe for a big move, provided it holds the range low. Others caution that if the price continues to hover without strength near support, it could signal weakness and trigger further downside.
What’s Next for SUI?
As of now, SUI trades at $3.15, down nearly 10% over the past month. With its price pinned near a decisive technical level, the next few days will be critical. A bounce could reignite bullish hopes for a breakout, while failure to hold support may lead to a sharp reversal toward June’s lows.
For investors and traders alike, all eyes are on the $3.10 support zone as SUI decides whether to bounce or break down.
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