SUI price does not look so good right now as noted by Alpha Crypto Signal, a crypto analysis page on X. According to them, SUI is forming a rounding top pattern on the daily chart. This is usually a bearish reversal structure that signals a shift from upward movement to downward momentum.
They explained that SUI has already broken below the neckline of that pattern, and the breakdown came with increased volume. That makes the pattern even more reliable and shifts the price bias to the downside. Alpha Crypto Signal stated, “Structure says weakness. Momentum confirms it.”
Their key message is simple. As long as SUI stays below that neckline zone, any bounce is likely to be short-lived. They warned traders not to chase longs right now. Instead, they advise waiting for SUI to either form a new price structure or reclaim those important resistance levels before reassessing the trend.
At the time this analysis was posted, SUI price was sitting around $3.00. It has climbed a bit since then and is now around $3.17, but that does not cancel the warning.
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What Moving Averages Say About SUI Price
To get more clues, we can also look at SUI’s moving averages on the daily chart, based on data from Investing.com. This helps us understand the trend better.
The 50-day moving average (MA50) is currently at around $3.10 to $3.12. SUI is slightly above that level right now, so this gives off a short-term Buy signal. That suggests a possible small bounce or support.
However, the 100-day and 200-day moving averages tell a different story. The MA100 is around $3.19 and the MA200 is between $3.25 and $3.27. SUI is still trading below both of them, and that’s why they are giving off Sell signals.
This tells us that even if there’s a short-term bounce, the broader trend is still weak unless the price climbs above those higher averages. Until then, the risk of further downside remains.
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Wait and Watch for Now
Analysts like Alpha Crypto Signal are clear about their position. SUI price is not in a strong place right now. Unless it recovers the neckline and climbs above key moving averages, it might not be wise to buy.
Right now, SUI needs to form a stronger price structure before bulls can safely return. It may be tempting to buy the dip, but the market is showing signs of weakness. Traders should stay patient and let the chart develop before jumping in.
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