SUI has suffered a dramatic value collapse, becoming a member of the crypto market crash on April 7, which is being dubbed as the ‘Black Monday’. The token plunged by 20% in the final 24 hours, marking its lowest level since October 2024. Trade leaders have known as this present day the ‘Black Monday’, drawing a comparability to the notorious 1987 inventory market crash.
As of now, SUI is buying and selling at $1.76, down from $2.20 earlier than the crypto market crash. The downturn aligns with the total market development, with well-known cash like Bitcoin and Ethereum dealing with staggering drops. These value actions are being linked to the newly introduced international import tariffs by Donald Trump. Market-wide panic sell-offs have ensued, and technical indicators are signalling bearish strain for SUI.
Indicators Trace At Potential Reversal
The Relative Energy Index (RSI) on the each day chart has fallen beneath 30. This means oversold circumstances. In the previous, such alerts have triggered a bullish reversal. However SUI’s present setup suggests in any other case. The token’s decline from its all excessive has shaped a descending channel for the 24H chart, hinting at potential losses. The bearish value motion can also be corroborated by the Bull Bear Energy (BBP) indicator has ventured into the detrimental territory. This reveals that the sellers are absolutely in management. If this development persists, SUI might additionally breach crucial assist ranges and slide beneath $1. Analysts predict that if it continues, we’d even see the SUI value collapse to $0.45.
Rebound to $2.34 Potential
On the different facet, a important enhance in liquidity in the crypto market might relieve this bearish strain. In such a state of affairs, SUI’s value would possibly rebound to $2.34 or larger. If that occurs, the outstanding altcoin would possibly surge to $3.49 as predicted by the Fibonacci Retracement indicator. Given this example, let’s take a fast take a look at the coin’s newest value efficiency and type an SUI value prediction for right this moment.
SUI Worth Evaluation: 40% Drop Noticed, Shopping for Pressures Fail to Push SUI
SUI commenced buying and selling yesterday at $2.226, happening a sluggish downtrend as the shopping for strain fell. The bears took management of the market, with slight loss of life crosses forming round midnight, as the SUI value fell to $2.175 by 09:35 in the morning. The value appeared to be stabilizing for a whereas, with a golden cross forming. However the shopping for strain was not sufficient to assist a reversal. The decline continued as promoting strain started to construct up. By 14:00 UTC, the coin had fallen to $2.088, discovering some assist there. Nonetheless, any upward actions from there have been shortly restricted, and SUI underwent a large decline.
Chart 1: printed on TradingView, April 7, 2025
This drop led SUI to seek out assist at $1.89 by 21:00 UTC. As a golden cross shaped, a value reversal was anticipated, nevertheless it might solely assist a consolidation part. A slender buying and selling vary shaped, with $1.938 as the resistance. SUI alternated between resistance and assist. At 00:55 on April 7, a golden cross appeared, and a resistance break was anticipated. SUI did break the resistance, however a loss of life cross shaped proper after as SUI dipped, first to $1.824, after which to $1.72 after a temporary buying and selling vary. As of press time, the SUI value was seen climbing to check the resistance.
SUI Worth Prediction: Can SUI Return to $2 Ranges?
SUI has fallen by over 40% in the previous 24 hours, very similar to different altcoins on the market. The Black Monday appears to be nonetheless doing its magic, with the shopping for development failing to take management. For now, SUI is about to check the $1.87 assist. However given current efficiency and traits, its advance is certain to be rejected. SUI might return to the assist degree in the latter half of the day. If shopping for strain stays insufficient, we’re a additional value drop to $1.6-$1.7.
