SUI Price Drops, But Crypto Analysts See Bullish Breakout Setup Forming Brenda Mary | usagoldmines.com

TLDR:

• SUI trades below the 20-day SMA with MACD showing mounting bearish momentum.
• Analysts cite a bullish setup forming if SUI holds the $3.30 support zone.
• Volume suggests possible accumulation despite short-term price weakness.
• SUI’s foundation support boosts confidence in long-term ecosystem strength.

SUI has taken a hit alongside the broader crypto market today. The token trades at $3.47 with substantial selling pressure mounting in the market. 

The Layer 1 blockchain token experienced a sharp 6.07% decline as bearish momentum intensified across digital assets. Technical indicators now paint a mixed picture for the altcoin’s immediate future. 

Market volatility has reached elevated levels as traders reassess their positions. Despite the correction, several crypto analysts maintain optimistic outlooks based on chart patterns and support levels.

SUI Price Action Shows Technical Weakness

The current SUI price movement has pushed the token below its 20-day simple moving average, signaling weakening bullish sentiment. 

Bollinger Bands have widened around the price action, indicating increased market volatility and uncertainty. The Relative Strength Index sits at 40.67, hovering just above oversold territory but suggesting reduced buying interest among investors.

MACD indicators have crossed below the signal line with a growing negative histogram, confirming strengthening bearish momentum. If SUI fails to maintain support above the $3.30 level, further downside could target the psychological $3.00 mark. 

Volume remains moderate without strong reversal signals emerging from the current price action.

Cryptocurrency trader Sjuul from AltCryptoGems emphasized that SUI’s correction represents consolidation within a clear uptrend rather than a complete breakdown. 

The analyst pointed to a critical green support zone that could determine the token’s next directional move. Maintaining this support level would keep higher price targets achievable according to the technical assessment.

CryptoED noted that SUI displays one of the strongest chart patterns in the current market environment. 

One of the strongest charts in the market right now: $SUI $SUI Price broke out of a long-term downtrend, flipped key resistance into support, and is now consolidating in a bullish continuation pattern. Volume confirms accumulation.

Stochastic RSI is bottoming. RSI is… pic.twitter.com/gHMDx358NO

— CryptoED (@Crypto_ED7) May 30, 2025

The trader highlighted how the SUI price broke out of a long-term downtrend and successfully flipped key resistance into support. Volume patterns suggest accumulation is occurring during the current consolidation phase.

Community Foundation Strengthens Market Confidence

Momin Saqib acknowledged the market structure challenges but praised the SUI ecosystem’s fundamental stability. 

The foundation team has demonstrated strong support for developers and builders within the network. This backing has enhanced community trust and could provide underlying strength during market corrections.

The analyst expects some additional downside pressure due to broader market conditions but remains positioned to add exposure at specific technical levels. 

$SUI ecosystem starting to look stable here fundamentally

The foundation team has shown immense support to the builders which further strengthens the community trust!

Expecting a bit of downside here due to market structures!

But I am a bidder soon at the levels marked! pic.twitter.com/axbbkbEA2S

— Momin (@mominsaqib) May 30, 2025

Foundation support for ecosystem development continues attracting long-term focused participants. Strategic buying opportunities may emerge if SUI price reaches marked support zones.

Several analysts project the SUI price could target $4.50 and eventually $5.00 if current support levels hold firm. Stochastic RSI indicators are showing bottoming patterns while traditional RSI begins turning upward from oversold conditions. These momentum shifts could signal the beginning of the next upward movement.

The post SUI Price Drops, But Crypto Analysts See Bullish Breakout Setup Forming appeared first on Blockonomi.

This articles is written by : Nermeen Nabil Khear Abdelmalak

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