SUI Price Faces 30% Drop Risk If Support Levels Fail

SUI has experienced a price recovery over the last two months, but analysts caution about potential declines below the $3.00 support level.

SUI Rally Risks Massive Price Drop

SUI peaked at $4.29 but has since traded between $3.40 and $4.00.
Recently, it fell 14.2% to hit the $3.00 support during market retracement.
This week, SUI attempted a recovery to $3.20 but dropped back to the $3.10-$3.15 range.
Analyst Carl Runefelt indicated risks of breaking down from a descending triangle pattern.
The baseline for this pattern is around the $3.10 support.
A downside breakout could lead to a 35% decline toward the $2.00 mark.
An upside breakout might push SUI towards the $4.20 resistance.
Analyst Crypto Bullet identified a rising wedge formation targeting the $8-$10 area.

Rekt Capital noted that SUI aimed for a bullish Monthly Candle Close in May.
Last year, SUI retested the $3.39 level as support before reaching its ATH of $5.35.
This time, May closed below $3.39, failing to confirm it as support.
Current positioning suggests possible rejection if conditions do not improve.
If SUI cannot reclaim $3.39 as support, it may drop to $2.81 or lower.
As of now, SUI trades at $3.08, reflecting a daily decline of 2.3%.