SUI Price Volatility High as Key Support Levels Tested

SUI’s price action is currently hinged on the $2.42-$2.66 support zone. A breach below $2.42 could push the price towards $2.09, where buyers might intervene to prevent further decline. This support zone is crucial for determining whether SUI can stabilize or face further declines. Traders are closely monitoring this micro support zone to gauge short-term trends. If $2.42 fails to hold, the decline may accelerate, challenging investor confidence in the near term.

Technical analysis of SUI/USD on the 3-day time frame reveals a complex Elliott Wave pattern. Traders use labels such as “X,” “Y,” “C,” and “B” to identify corrective waves within the broader trend. The price action is nearing potential reversal zones, marked by significant Fibonacci retracement levels at 35.20%, 50.01%, and 61.80%. These levels offer insight into possible support and resistance areas based on historical price action. For a reversal to occur, SUI needs to form a clear 5-wave pattern that would confirm an upward move. Without this confirmation, the market could remain uncertain, and further tests of lower price levels are possible. Investors should remain cautious as the price tests these key levels. Close monitoring of the Elliott Wave pattern and Fibonacci retracements is essential to understanding SUI’s potential next move.

SUI’s price volatility has been high, with recent price fluctuations signaling pivotal moments. Traders should monitor key support levels to predict whether a trend reversal or continuation occurs. The price of SUI experienced significant variability between September 2024 and May 2025, with notable spurts and falls. A massive rise in prices started in mid-November 2024, peaking close to 10K, and the lowest was at a range of less than 500. Since the beginning of 2025, SUI has experienced an impressive uptrend, particularly in February, reaching a stable rate in April 2025 at 2.7K. Although there has been a volatility trend, the overall trend has been characterized by an upsurge, more so in the year 2025. Traders and investors must pay close attention to whether such primary support levels remain intact, as they will be a determining factor for further development. A confirmation of this reversal trend and a break above resistance may bring a change in market sentiment, potentially allowing for profits. The market remains uncertain, and the next couple of weeks may be seminal in establishing the fate of the asset.