SUI Plummets 4.76% in 24 Hours as Bearish Pattern Confirmed

SUI has confirmed a bearish head and shoulders pattern, with the price dropping below the neckline at $2.85. This breakdown is significant as it indicates a clear bearish momentum on the daily timeframe. The price is now trading below both the 9-day Exponential Moving Average (EMA) at $2.87 and the 50-day Simple Moving Average (SMA) at $3.45, reinforcing the short-term bearish control and the continuation of lower highs and lows.

The volume increase during the breakdown phase supports the bearish outlook, with projected downside targets near the $2.20–$2.00 technical range. Traders are closely monitoring the situation, watching for any weak retests into the neckline zone, which could offer short opportunities if the price fails to reclaim support and volume remains low on the bounce.

Technical indicators further support the bearish outlook. The price action following the breakdown has confirmed the bearish reversal, with SUI continuing to print a clean downtrend of lower highs and lower lows. The inability to reclaim lost levels confirms bearish control in the current phase, with no clear reversal signals at this time.

At the time of writing, SUI was trading at $2.49, down -4.76% in the last 24 hours and down -8.98% in the last week. The selling momentum dovetails the overall trend seen on the chart, and there are no clear reversal signals at this time. The inability to reclaim lost levels confirms bearish control in the current phase.

If the pattern continues to play out, technical projections point toward the $2.20–$2.00 range. These targets are derived from the measured move following the neckline break. Traders watching for re-entry points may consider short positions only if the price fails to regain the neckline level on low volume.

Until the neckline is reclaimed decisively, bearish setups may dominate SUI’s short-term outlook. Traders are advised to monitor volume behavior closely on any retests of broken support zones. The path of least resistance remains to the downside, and the bearish bias is expected to persist unless bulls reclaim the neckline zone quickly.