SUI Retests Key $2.80 Level Amid Falling Wedge Pattern

SUI has recently fallen below the $3.00 mark, hitting a low of $2.68 before recovering slightly. Analysts suggest it is testing critical resistance levels that could determine its future movement.

SUI Price Movements

SUI experienced a 7% decline over three days due to market conditions influenced by geopolitical tensions.
Trading range since late April has been $2.33-$4.10, with price movements predominantly near the upper end.
The cryptocurrency broke a multi-month downtrend in March, leading to a previous rally to $4.00.
Current price is around $2.79, reflecting a 3.3% daily decrease.

Technical Analysis

SUI is retesting the key $2.80 level, which has previously acted as both support and resistance.
A failure to hold this level could lead to further declines toward $2.33 or even $2.00.
If stability is achieved above $2.80, SUI could reclaim the $3.00 barrier, essential for continuing its bullish momentum.
Analysts project potential targets of $5.00-$5.50, contingent on maintaining current support levels.

Overall, June's performance is expected to be crucial for determining SUI's mid-term trajectory, as it has not secured consistent weekly closes within its historical range.