SUI Slides Into Key Fib Support — Is the Downtrend Far From Over?
SUI is again beneath stress after sliding right into a key Fibonacci assist zone, elevating recent issues about whether or not the latest pullback is barely a pause or the begin of a deeper draw back transfer. With bearish momentum nonetheless in play and no clear reversal sign but, the market is now at a important determination level that would form SUI’s subsequent main transfer.
Fibonacci Support Comes Into Focus
Crypto analyst More Crypto Online, in a latest update, revealed that SUI has now reached its subsequent Fibonacci-based assist ranges, bringing key draw back zones into focus. The 61.8% retracement sits close to $1.20, whereas a broader assist area extends between $0.91 and $1.70. These areas are outlined utilizing totally different analytical strategies, with the orange zone representing retracement-based support and the blue zone derived from a measured comparability between the preliminary A-wave decline bottoming in April final 12 months and the present C-wave.
From a structural perspective, SUI continues to show relative weak point when in comparison with Bitcoin, Ethereum, and Solana, all of which stay above their April 2025 lows. SUI has already damaged beneath that stage, reinforcing the view that draw back stress stays dominant.
According to the evaluation, the breakdown aligns with both a fifth wave to the draw back unfolding inside circle wave C, or with value shifting by means of circle wave 3 of a bigger bearish sequence. At this stage, no technical indicators verify {that a} native backside has shaped.
Both the yellow and white eventualities outlined in the evaluation proceed to permit for additional draw back. As lengthy as value motion fails to indicate clear reversal indicators, extra weak point can’t be dominated out.
White Scenario: SUI Third Wave Down Remains In Play
The analyst additional highlighted that beneath the white state of affairs, the market is taken into account to be in a 3rd wave to the draw back inside a broader bearish construction. In this case, circle wave 3 is predicted to succeed in not less than the $0.915 stage and will lengthen even decrease. The extra straight value continues to say no, the larger the chance that this bearish interpretation stays in play.
In distinction, the yellow state of affairs nonetheless leaves room for a future restoration. This outlook permits for a rally that would result in new highs as a part of a broader C-wave advance. However, for this bullish case to realize credibility, the market would want to ship a transparent five-wave transfer to the upside.
Without such affirmation, any upward motion is extra more likely to develop as a corrective wave 4 inside the white state of affairs slightly than the begin of a brand new impulsive rally. In that context, rebounds can be anticipated to face resistance, with the customary resistance zone at the moment outlined between $1.81 and $2.55.
