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SUI price prediction – Examining why the altcoin might fall to $3 next
By: bitcoin ethereum news|2025/05/05 15:00:01
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SUI maintained its bullish market structure, but it seemed to be facing a short-term retracement Swing traders should keep an eye on the psychological round number support at $3 Sui [SUI] registered strong gains towards the end of April, but it has shed 8.8% since Friday, 2 May. It reclaimed a bullish market structure on the 1-day chart after surging past the previous lower high at $2.78 on 23 April. Back then, Bitcoin [BTC] had rallied swiftly from $85k to $93k. Over the past few days, however, BTC faced rejection from $97k and SUI followed its downward trajectory. SUI is likely to fall close to $3 next Source: SUI/USDT on TradingView After retracing almost all of the November rally by April, the altcoin’s bulls have been re-establishing control. The market structure break was a strongly bullish sign, even though the $3.5-level was not defended as support. SUI’s rally of the past ten days saw the CMF poke its head above +0.05 to indicate sizeable capital flows into the market. The MFI reflected bullish momentum, and did not form a bearish divergence yet on the 1-day timeframe. Together, the indicators and the price action were bullish on the 1-day timeframe. A price dip to $3.06, $2.75, and $2.45 may be possible in the coming days, especially alongside the bearish momentum of Bitcoin recently. Finally, the liquidation heatmap offered more clues about the next SUI move. Source: Coinglass The 3-month liquidation heatmap revealed that the $3.14 and $3 levels were the immediate liquidity pockets that the price would gravitate towards. Below that, the $2.8-level and the $2.3-level seemed to be magnetic zones. However, these levels might not attract the price strongly. Hence, it may be highly likely that a price move to $3 would occur in the coming days. It could offer a buying opportunity, but cautious traders can gauge the sentiment around BTC before looking to buy SUI. In case of a bullish reversal, the $3.9-level would be a liquidation cluster that bulls might target next. Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion Source: https://ambcrypto.com/sui-price-prediction-examining-why-the-altcoin-might-fall-to-3-next/
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