SUI Cryptocurrency Price Could Plunge to $1,6, Says Expert

• Analyst predicts SUI will fall to US$ 1,6.
• Head and shoulders formation indicates bearish potential.
• SUI maintains weekly high despite recent drop.

The performance of the SUI cryptocurrency has been eye-catching over the past week, reaching significant highs. However, the scenario changed drastically at the weekly close, with a drop of almost 5% on Saturday, February 15, 2025, indicating a possible start of a bearish trend for the asset.

Concerns are heightened by an analysis by renowned cryptocurrency expert Ali Martinez, who is signaling a potential drop in SUI’s price to around $1,6. Martinez shared his observations in a post on the X platform on Feb. 15, pointing to a worrying technical formation on SUI’s chart. The so-called “head and shoulders” formation, often seen as a harbinger of a bearish reversal, was spotted on the cryptocurrency’s 12-hour chart.

This pattern is characterized by three price peaks, with the central, higher peak flanked by two smaller ones. Such a setup indicates that SUI may be preparing for a reversal of its recent uptrend. Validation of this pattern occurs if the price closes below the neckline, a line that connects the valleys formed between the peaks. The downside potential is estimated by the distance between the highest peak (the head) and the neckline, projecting this distance below the neckline to the breakout point.

Martinez points out that the critical $3 region is the current neckline for SUI. A close below this point could trigger a significant decline, taking the price to the $1,6 target, a drop of over 50% from the current price.

$SUI appears to be forming a head-and-shoulders pattern, which, if confirmed, could indicate a potential move toward $1.60! pic.twitter.com/w8OsNvt6Tf

— Ali (@ali_charts) February 16, 2025

On the other hand, if the SUI manages to sustain a close above the right shoulder of this formation, it could invalidate the current bearish trend and potentially resume bullish momentum, with a target of clearing the critical $3,7 level.

Although SUI has seen a significant decline over the past 24 hours, its weekly performance still sees a notable increase of nearly 10,6%, reflecting the volatility and rapid changes in direction that are common in the cryptocurrency market.

The year began with a record high for SUI, which hit $5,35 on January 4. However, the cryptocurrency suffered from market fluctuations, influenced by new trade policies announced by US President Donald Trump, which triggered a general market correction, taking SUI to a low of $2,73.