Sui Crypto Price Nears Crucial Support: Is a 30% Rebound Coming?

The post Sui Crypto Price Nears Crucial Support: Is a 30% Rebound Coming? appeared first on Coinpedia Fintech News

Last week, Sui’s crypto price rocketed by 10%, catching traders off guard with its swift surge. The rally invited a wave of profit-taking, which, combined with a technical breakdown, sent SUI tumbling below the pivotal $2.07 mark. Now, with a weekly gain cut back to +0.45% and a 24-hour drop of -3.36%, SUI faces uncertainty at the $2.00 zone.

Successively, the market cap has also shrunk by 3.52% to $7.49 billion, indicating reduced confidence after the technical pullback. Crypto analysts are closely watching SUI, hinting that a massive setup could be brewing if support holds and momentum returns. So, join me as I explore where the SUI price could head in the coming time.

Sui Crypto Price Analysis

As I break down the Sui crypto price chart, here’s what stands out to me. SUI price breached its $2.07 pivot and the 7-day SMA at $2.08, revealing clear weakness as bulls lost their grip. The RSI-14 is at 42.07, signaling that SUI is taking a rebound from oversold levels.

Successively, this is despite the MACD histogram turning positive (+0.011). The MACD line remains below the signal, meaning momentum favors the bears for now. Wondering what’s next? A close below $2.00 could trigger aggressive selling, with Fibonacci retracement support coming into play at $1.85-$2.00.

If this critical area holds, I believe, we may see price stabilization with potential upside heading into next week. That being said, if SUI price bounces from this region, bulls could ignite a violent rally toward $2.16 and possibly $2.37 as intraday resistance.

We can expect these key targets in the next 5-7 trading days, depending on how SUI reacts near $2.00. In a bearish scenario, if the SUI price loses $2.00, the downside could accelerate rapidly to $1.85. Contrarily, if buyers rush in as RSI dips deeper, the bounce could be sharp, with resistance first at $2.16, then $2.37.

What Do Analysts Have to Say?

Analyst James echoes my thoughts. In an X post, he calls this a “very nice setup” and suggests that any sustained rally from these levels promises intense price moves.

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