SUI Slides Into Key Fib Support — Is the Downtrend Far From Over?

Overview

SUI is currently experiencing renewed pressure as it has entered a significant Fibonacci support zone. This situation raises concerns about whether the recent pullback is merely a temporary pause or the beginning of a more substantial downward movement. With ongoing bearish momentum and a lack of clear reversal signals, the market finds itself at a pivotal juncture that could dictate SUI’s next major direction.

SUI’s Current Position and Analysis

According to a recent update from crypto analyst More Crypto Online, SUI has reached critical Fibonacci-based support levels, highlighting important downside zones. The 61.8% retracement level is positioned near $1.20, while a broader support region stretches between $0.91 and $1.70. These support areas are identified through various analytical methods: the orange zone represents retracement-based support, and the blue zone is derived from a measured comparison between the initial A-wave decline that bottomed in April of the previous year and the current C-wave.

From a structural perspective, SUI exhibits relative weakness compared to major cryptocurrencies like Bitcoin, Ethereum, and Solana, all of which remain above their lows from April 2025. In contrast, SUI has already dipped below that critical level, reinforcing the notion that downside pressure is still prevalent.

The analysis indicates that this breakdown may align with either a fifth wave to the downside unfolding within circle wave C or with price action progressing through circle wave 3 of a larger bearish sequence. Currently, there are no technical indicators suggesting that a local bottom has been established. Both the yellow and white scenarios presented in the analysis permit further downside movement. As long as price action does not display clear reversal signals, additional weakness remains a possibility.

White Scenario: Continued Downward Movement

Under the white scenario, the market is perceived to be in a third wave to the downside within a broader bearish structure. In this context, circle wave 3 is anticipated to reach at least the $0.915 level, with the potential for further declines. The more consistently the price continues to fall, the greater the chance that this bearish interpretation holds true.

Yellow Scenario: Potential for Recovery

Conversely, the yellow scenario allows for the possibility of a future recovery. This outlook envisions a rally that may lead to new highs as part of a broader C-wave advance. However, for this bullish case to gain traction, the market would need to demonstrate a clear five-wave movement to the upside. Without such confirmation, any upward movement is likely to be viewed as a corrective wave 4 within the white scenario rather than the initiation of a new impulsive rally. In this context, any rebounds would likely encounter resistance, particularly in the standard resistance zone defined between $1.81 and $2.55.

From author

The current situation surrounding SUI exemplifies the complexities of market dynamics within the cryptocurrency landscape. The dual scenarios outlined provide insight into potential paths for SUI, reflecting the uncertainty that often accompanies price movements in this volatile sector. As traders and investors navigate these challenges, the importance of technical analysis becomes increasingly evident in making informed decisions.

Impact on the crypto market

• SUI’s position under critical Fibonacci support may influence trader sentiment and market behavior.
• The ongoing bearish momentum could lead to increased caution among investors, potentially affecting trading volumes.
• The comparison with stronger cryptocurrencies like Bitcoin and Ethereum may raise concerns about SUI’s relative strength and investor confidence.
• Uncertainty regarding SUI’s direction may lead to volatility in the broader crypto market as traders react to developments.
• The outlined scenarios suggest that clear signals are necessary for a reversal, which could impact decision-making processes for traders.