The cryptocurrency market remains under significant selling pressure, with major altcoins struggling after their late 2024 rallies. Ethereum has dropped from its December high of $4,000 to $1,900, dragging down the broader altcoin market. Sui (SUI) has been among the hardest-hit assets, suffering a 55% correction over the past 60 days, shaking investor confidence.

Key Support Levels in Focus

SUI’s decline follows its rejection from the ascending channel’s support trendline at $4,66, triggering a sharp sell-off. Now, the token has reached a crucial support zone that aligns with its 200-day moving average. This level previously acted as strong resistance before the breakout, making it a key area for potential price stabilization.

Sui (SUI) Holds Critical Support — Is It Time to Buy the Dip? image 0

If SUI holds above this confluence of support, it could mark an attractive accumulation opportunity. However, traders should watch for confirmation signals such as rising volume, bullish candlestick patterns, or a shift in MACD momentum before taking long positions.

Will SUI Rebound or Drop Further?

If buying pressure emerges, SUI could recover toward the $2,50–$3,00 range in the short term. However, failure to maintain support may lead to further downside, with the next major level at $1,80. Risk management will be crucial as investors weigh whether SUI can stage a recovery from its current position.