SUI Price Rally Faces Bearish Onslaught—Is This the Dip Before a $6 Breakout?

Bearish forces circle as SUI’s rally shows cracks—traders eye potential entry points before the next leg up.

With $6 in sight, the question isn’t if but when the bulls regain control. Another ’buy the dip’ narrative or legitimate resistance? Only your portfolio will know for sure.

Meanwhile, traditional finance bros still can’t decide if crypto is a scam or their ticket to early retirement.

With Bitcoin gaining momentum, the crypto markets have begun to rise. With the trading volume restricted within a range, the bulls were working hard to maintain a healthy ascending trend. Meanwhile, the sui price seems to have been failing to gain the investor’s attention as the price levels continue to trade within a range-bound, facing enormous upward pressure. 

Now the question arises whether the SUI price will drop to the local support and offer a good entry for new investors or repeat the previous pattern and print a huge bullish candle, rising over 20%.

Recently, the SUI blockchain experienced a major exploit that drained over $200 million from the markets. Besides, Hyperliquid Price broke out of the range and formed a new ATH that dragged SUI price below in the crypto rankings, which has been a major setback. In the times when the price is not displaying a possibility of a breakout, the SUI price is now believed to test the local support before the next price action. 

The sui price is stuck within a pivotal range between the resistance zone of $3.73-$3.8 and the support zone of $3.3-$3.23. Currently, the price has dropped to the lower bands of Bollinger, while they have begun to squeeze, which indicates a period of low volatility. However, a squeeze usually results in a breakout and a potential trend reversal. Meanwhile, the price is expected to consolidate a little more to trigger a breakout, and hence, a drop to the support appears to be fast approaching. 

On the other hand, the CMF and RSI continue to maintain a steep descending trend, which suggests a drop in the rally strength as well as the money FLOW into the token. This substantiates the bearish claim of plunging to $3.25, which may erase the selling pressure and pave the way for a strong rebound followed by a healthy ascending trend.