The cryptocurrency Sui (SUI) is retesting key support near $0.50 after a deep retracement, according to market analysis. Analysts observe a potential repeating fractal pattern similar to its 2024 accumulation phase, which could signal a foundation for future price expansion if support holds. Maintaining price above the $0.50 level is considered critical for the bullish technical structure to remain valid.
The cryptocurrency Sui (SUI) has retraced toward a significant Fibonacci level, drawing analysis from market experts. This movement suggests a potential accumulation zone may be forming during a broader uptrend.
Analyst Crypto Patel points to a repeating fractal pattern on SUI’s chart. “The structure closely resembles the project’s 2024 accumulation phase, which preceded a powerful rally exceeding 1,000%,” the analyst noted.
The forecast is contingent on SUI maintaining a crucial technical level above $0.50. A weekly close below this line could invalidate the bullish pattern, while holding above it suggests buyer presence.
If the structure holds, analysts outline several upside price targets. These include initial resistance at $1.80, followed by levels at $4.00 and $10, with long-term projections extending to $20.
Current momentum indicators present a mixed picture for SUI. The Relative Strength Index (RSI) sits at 41.19, indicating neutral-bearish conditions.
The Moving Average Convergence Divergence (MACD) indicator shows a recent bullish crossover. However, the MACD lines remain below the zero line, suggesting the recovery trend is still early.
