- Sui price breaks below key level at $1.
- SUI drops over 12% lower for the week as the alt coin keeps selling off.
- In case bears trigger a new low for May, expect to see a 20% devaluation this week.
Sui (SUI) price is the new kid on the block and only started trading at the beginning of May. Investors of the first hours are not really enjoying their investments thus far as the price action has been on a steady decline lower in the past few days. With Sui's price flirting with its lowest level for May on its last day of the month, a further drop could value SUI at $0.90.
Sui price heads lower in search of fair value
Sui price is not giving early investors and believers a good run for their money. Price action jumped on the first day it started moving in the open market, surging from $0.10 to $4 in the trading session. In all fairness, everyone knows that at the first moment of launching a crypto coin, it is almost impossible to enter the price action and fully book all those profits.
SUI holding in the wallet made sense at that time as its popularity really picked up quite quickly, which unfortunately was only for a very short time. Price action has been trading lower since. If bears can push price action back below that red descending trendline, expect to see another 10% drop. The Relative Strength Index (RSI) still has some room to go, and that means that $0.90 becomes the next profit level for bears to aim for.
SUI/USD 4H-chart
A bounce off that red descending trendline could still see an upswing with some recovery for Sui's valuation. Keep an eye on $1 for some pressure and resistance from bears. Once broken through, it will be a quick win to meet $1.10 and book a nice 15% gain.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Bitcoin Weekly Forecast: BTC remains calm before a storm
Bitcoin price has been consolidating between $85,000 and $88,000 this week, approaching the lower boundary of the consolidation range when writing on Friday. A K33 Research report explains how the markets are relatively calm and shaping up for volatility as investors absorb the tariff announcements.
Donald Trump’s tariff policies set to increase market uncertainty and risk-off sentiment
US President Donald Trump’s tariff policies are expected to escalate market uncertainty and risk-off sentiment, with the Kobeissi Letter’s post on X this week cautioning that while markets may view the April 2 tariffs as the "end of uncertainty," it anticipates increased volatility.
Ethereum Price Forecast: Whales increase buying pressure as developers set April 30 for Pectra mainnet upgrade
Ethereum developers tentatively scheduled the Pectra mainnet upgrade for April 30 in the latest ACDC call. Whales have stepped up their buying pressure in hopes of a price uptick upon Pectra going live on mainnet.
BTC stabilizes while ETH and XRP show weakness
Bitcoin price stabilizes at around $87,000 on Friday, as its RSI indicates indecisiveness among traders. However, Ethereum and Ripple show signs of weakness as they face resistance around their key levels and face a pullback this week.
Bitcoin: BTC remains calm before a storm
Bitcoin (BTC) price has been consolidating between $85,000 and $88,000 this week, approaching the lower boundary of the consolidation range when writing on Friday.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.