SUI Hits Critical Fibonacci Support — Is the Downtrend Just Beginning?

SUI is facing renewed pressure after dropping into an important Fibonacci support zone. This situation has sparked concerns about whether the recent retreat is merely a pause or the onset of a more significant decline. With bearish momentum persisting and no obvious signs of recovery yet, the market has reached a crucial juncture that could influence SUI's next major movement.

Key Takeaways

SUI has entered a crucial Fibonacci support zone, raising concerns about a potential ongoing downtrend.
Key support levels are the 61.8% retracement near $1.20 and a broader range between $0.91 and $1.70.
SUI shows relative weakness compared to major cryptocurrencies such as Bitcoin, Ethereum, and Solana.
Current scenarios suggest continued bearish pressure unless clear reversal signals appear.
A white scenario indicates a potential third wave down reaching levels around $0.915, while the yellow scenario allows for possible recovery but requires significant bullish activity to gain credibility.

SUI

Focus on Fibonacci Support Levels

In a recent update, crypto analyst More Crypto Online highlighted that SUI has reached its next Fibonacci-based support levels, bringing significant downside zones into focus. The 61.8% retracement level is around $1.20, while a broader support range spans from $0.91 to $1.70. These zones are established using various analytical techniques, with the orange zone indicating retracement-based support and the blue zone representing a measured comparison between the initial A-wave decline, which bottomed out in April last year, and the current C-wave.

From a structural viewpoint, SUI shows relative weakness when evaluated against Bitcoin, Ethereum, and Solana, which are all maintaining their positions above the lows from April 2025. In contrast, SUI has already dipped below that threshold, reinforcing concerns about ongoing bearish pressure.

SUI
SUI market setup indicating a potential bounce | Source: Chart from More Crypto Online on X

According to the analysis, this breakdown may represent either a fifth wave descending within the circle wave C or price movement through circle wave 3 of a larger bearish pattern. Currently, there are no technical indicators confirming that a local bottom has been established.

Both scenarios outlined—yellow and white—continue to suggest potential for further declines. As long as the price action does not present clear reversal signals, additional downward pressure cannot be dismissed.

White Scenario: Continuing the Third Wave Down

The analyst noted that in the white scenario, the market seems to be in a third wave moving downward within a larger bearish framework. In this situation, circle wave 3 is anticipated to reach at least the $0.915 level and could possibly drop even lower. The more consistently the price decreases, the higher the possibility that this bearish interpretation holds true.

Conversely, the yellow scenario allows for the possibility of a future rebound. This outlook considers a rally that could lead to new highs as part of a more extensive C-wave advance. However, for this bullish perspective to gain traction, the market needs to generate a distinct five-wave move upward.

Without such confirmation, any upward movement is likely to be perceived as a corrective wave 4 within the white scenario rather than the initiation of a new bullish rally. In this context, potential rebounds are expected to encounter resistance, with the standard resistance zone currently identified between $1.81 and $2.55.

SUI
SUI trading at $1.11 on the 1D chart | Source: SUIUSDT on Tradingview.com