SUI Price Forecast: SUIUSD Abounds in Downward Trend 

The SUI market is currently entrenched in a downward trend, with the sell-side dominating market activity. Following a prolonged bullish run in the last quarter of 2024, the market experienced a significant bearish shift in its structure in January, which has persisted.

Resistance Levels: $4.980, $3.740
Support Levels: $2.200, $0.800

The year 2025 commenced with a brief upward thrust, which saw the price temporarily break above the relative equal highs formed in December. However, this upthrust was short-lived, as three consecutive falling peaks engineered a bearish reversal.

In January, the Hull Butterfly oscillator indicated an overbought market, signalling a change in market direction. This was corroborated by the Smoothed Heikin Ashi candles, which also turned red. Consequently, the price plummeted, breaking below the $3.740 support level.

Since the reversal, the Hull Butterfly Oscillator has consistently read below 0, indicating sellers’ control of the market. Following the break of the $3.740 support level, the price experienced a brief period of redistribution, fluctuating above $3.000 with lower highs and higher lows in February. Ultimately, the price crashed further to the next support level of $2.20, with the Smoothed Heikin Ashi candles providing resistance. SUI is expected to continue its downward trajectory.

The market structure remains bearish, with no indications of a bullish structural shift. As such, the price is anticipated to decline further. A bearish break of the $2.20 support level is likely to precipitate another sharp decline to $0.800.

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