SUI drops 10% in a week as analysts warn of $0.929 support risk

Key support and resistance levels in focus

Technical analysts have turned their attention to crucial support levels as SUI continues to set lower lows. More Crypto Online, a well-followed market analyst, has identified $0.929 as a pivotal support zone within a descending wedge pattern.

Altcoins are still struggling and SUI is still forming lower lows. SUI is forming a descending wedge and the next support level is located at $0.929.

A descending wedge is a pattern that often signals potential trend reversals when price compresses between two downward-sloping trendlines. However, the presence of the pattern alone does not guarantee a price bounce.

Alongside $0.929, analyst Giannis Andreou highlighted $0.85 to $0.86 as another key downside area on the weekly frame, with $0.66 marked as an invalidation level that could undermine any nascent recovery efforts.

Comparative data from CoinGecko shows SUI’s 24-hour trading volume at $645,383,763, reflecting continued market activity but not an immediate trend reversal.

What analysts say about a potential recovery

Giannis Andreou’s recent analysis pinpointed $1.04 as the initial resistance SUI must retake to signal recovery. The token’s latest attempt at $1.14 saw rejection, keeping SUI below both $1.04 and $1.34—levels that must be breached for further bullish momentum.

The latest weekly candle faced rejection near $1.14 before falling below that threshold. Resistance at $1.34 presents the next major hurdle for any sustained recovery.

Should SUI manage to close above $1.34, Andreou’s chart identifies $1.80 and $2.35 as subsequent resistance targets. Further up, the $3.92 area and highs over $5 would become relevant in a longer-term bullish scenario, though these remain distant under current conditions.

On the downside, as long as SUI remains above the $0.85 to $0.86 weekly support, buyers may continue to defend against deeper losses. A clear break below these levels would open the path toward Andreou’s invalidation area at $0.66.

Market context and next steps

Sui is a Layer 1 blockchain designed to offer fast, scalable smart contracts through its distinct Move programming language, aiming to support decentralized applications at scale.

The immediate challenge for SUI is whether buyers can maintain support at $0.929 and $0.85 to $0.86, or if continued selling will push prices closer to new lows. Until SUI reclaims significant resistance levels, the overall technical structure remains bearish.

Mini dictionary: CoinGecko is a widely used cryptocurrency market data provider that supplies price, trading volume, market cap, and historical data for thousands of digital assets.