SUI hit $4.22 in February before dropping. It ended the month at $2.15, down nearly 24%. Sellers took control and pushed the price down.
Looking at the monthly chart, it shows SUI’s price now moving in a downward channel, suggesting a correction. The upward movement we saw from mid-2024 to early 2025 has hit a wall at $4.22. When the price couldn’t stay above this level, more people started selling.
Moreover, at the start of March, SUI continued trading near $2.15, hovering close to a key support zone at $2.00-$1.80. If this level holds, consolidation could occur before any potential upward move. However, failure to maintain support could push the price lower.
If prices keep dropping, SUI might find support around $1.50. If that breaks, it could fall to about $0.45, which has held strong before. This would match the overall market’s downward trend.
The weekly chart suggests an intermediate support around $2.00. A weekly close below this level could accelerate the decline toward $1.80 or lower. If the price of SUI stabilizes above $2.00, a period of consolidation is expected.
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Conditions for a Bullish Reversal in March
For the price of SUI to regain bullish momentum, a breakout above the descending channel would be necessary. This would require a monthly close above $2.50-$3.00, signaling strength. The first key resistance is at $3.50-$4.00, which must be cleared for a retest of February’s high.
A potential spike toward $4.22 and beyond could occur if the crypto market sentiment shifts positively. Bitcoin’s price movement and broader market conditions will likely play a role in whether SUI can attempt a recovery or continue declining.
If support holds and buying volume increases, SUI’s price could aim for a recovery toward $3.50-$4.00. However, without a breakout above resistance, further downside or consolidation remains the most probable scenario for March.
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