SUI Price Drops 5.4% on April 29 Despite Strong Weekly Gain

SUI network, a rising player in the blockchain world, has witnessed a 5.4% decline in SUI price today. While this dip raises concerns among short-term investors and traders, it followed an impressive 54.5% gain over the past week. This highlights SUI’s strong underlying momentum in the marketplace. Hence, market participants are actively monitoring the SUI token’s price as it navigates recent volatility. Is this a brief pullback in an overall bullish trend or a broader correction?

Here’s the detailed SUI price analysis for the last 24 hours to make a better trading decision. 

SUI Peaked to $3.8647 – April 28, 2025

On April 28, 2025, the SUI trading day started with a brief price decline. At 01:50 UTC, an RSI oversold situation aligned with Golden Cross on moving crossovers signaled a possible trend reversal. As expected, support was found at $3.3932 and moved upward. Later, at 04:25 UTC, an RSI Overbought situation occurred and led to a short-term fall. However, at 04:50 UTC, support was found at $3.5495 and experienced an uptrend. At 07:00 UTC, the price broke the resistance at $3.6467, breached a breakout, and reached $3.7146.

Chart 1- Analyzed by Buvaneswari_L, published on TradingView, April 29, 2025

At 08:00 UTC, the SUI price entered an RSI Overbought zone, hinting at a potential downtrend. Likely, at $3.7146, the price resisted and led to a brief fall. However, at 08:35 UTC, support was found at $3.6730, began to move up, and reached the peak price of $3.8647. At this point, a pin bar performed as a signal bar, followed by a key bar, a full-body red candle, signaled a resistance level. As expected, at 11:20 UTC, the price resisted at $3.8647 and experienced a steep decline. A Death Cross on MACD at 11:45 UTC confirmed this downfall. 

Considerably, at 15:50 UTC, a Golden Cross on moving crossovers aligned with an RSI Oversold zone, indicating a trend reversal. Likely, at 18:30 UTC, SUI found support at $3.5208 and moved in an upward channel. But at 19:55 UTC, a pin bar formed as a signal bar, followed by a full-body red candle, which hinted at a potential downtrend. As expected, the price movement resisted at $3.6368, experienced a sharp fall, led to a fake breakout at 23:00 UTC, bounced back, and closed at $3.5304. 

SUI Dropped to $3.4705 – April 29, 2025

As illustrated in Chart 1, at the beginning of the trading day, April 29, 2025, SUI exhibited short-term upward movement. But at 01:05 UTC, a pin bar, followed by a full-body red candle, signaled a resistance at $3.5784 and experienced a brief fall. However, at 02:25 UTC, support was found at $3.5224 and moved up. Conversely, at 03:50 UTC, a doji bar performed as a signal bar, followed by a key bar, a full-body red candle, signaled a resistance level. Likely, the price resisted at $3.5607 and experienced a sharp fall. 

At 04:40 UTC, an RSI oversold situation was encountered, indicating an uptrend. Shortly after, support was found at $3.4705 and moved in an ascending channel. A Golden Cross on MACD at 05:15 UTC asserted this uptrend. However, at 07:30 UTC, an RSI Overbought situation occurred and signaled a potential downtrend. At 08:20 UTC, the price resisted at $3.6254 and kept fluctuating within key levels. 

Will SUI Price Movement Rebound?

In today’s SUI price analysis, the SUI coin is projected to undergo a notable price decline. If the price movement attempts to break the key resistance level, SUI could continue its bullish trend despite the short-term dip. If SUI fails in its attempt, it could experience a further fall and lead to a correction zone. Let’s closely have an eye on the key levels to find its momentum.