The cryptocurrency market is experiencing its typical Monday volatility, giving back most of its weekend gains as both Bitcoin (BTC) and Ethereum (ETH) trade in red — down about 2% and 4%, respectively. This weakness has added noticeable pressure on major altcoins, including Sui (SUI).
SUI has slipped more than 6% today, and more importantly, it’s now hovering near a critical support zone that could define its next short-term move — whether a rebound or deeper correction.
Falling Wedge Pattern in Play
On the 4-hour chart, SUI is shaping a falling wedge pattern — a classic bullish reversal formation that often indicates the end of a downtrend.
As shown in the chart, the token has steadily declined within converging trendlines since late October, and the recent pullback brought SUI right down to the wedge’s lower boundary, near $2.20. This level has repeatedly attracted buying pressure in recent sessions, suggesting that bulls are actively defending the zone.
Each time price action has touched the wedge’s support, quick buying reactions have followed — highlighting the market’s recognition of this range as a key accumulation area.
What’s Next for SUI?
If SUI successfully holds above the wedge’s support line, the token could soon attempt to retest the $2.25 resistance, with the potential to break higher toward the $2.70–$2.90 region. Such a move would align with the typical bullish breakout behavior seen after a falling wedge pattern completes.
However, a failure to hold the $2.14 trendline support could invalidate the pattern and expose the token to deeper losses, likely dragging it toward the $2.00 psychological zone.
At the current stage, the setup appears cautiously optimistic — suggesting that if the broader market stabilizes, SUI might be positioning itself for a technical rebound in the coming sessions.