SUI teeters toward $3—here’s why the altcoin’s next stop might be a 20% plunge

Another day, another crypto correction. SUI’s chart paints a grim picture—broken support levels, dwindling volume, and a MACD that’s flashing red like a Wall Street trader’s panic button.

Whales are dumping, retail’s trapped, and that ’next big thing’ narrative? It’s evaporating faster than a meme coin’s utility. Even by crypto standards, this looks ugly.

Watch the $3.50 level. If it cracks, brace for a freefall to $3 as liquidations cascade. Just another reminder: in crypto, ’fundamentals’ often mean ’how fast you can front-run the crowd.’

SUI is likely to fall close to $3 next

Source: SUI/USDT on TradingView

After retracing almost all of the November rally by April, the altcoin’s bulls have been re-establishing control. The market structure break was a strongly bullish sign, even though the $3.5-level was not defended as support.

SUI’s rally of the past ten days saw the CMF poke its head above +0.05 to indicate sizeable capital flows into the market. The MFI reflected bullish momentum, and did not form a bearish divergence yet on the 1-day timeframe.

Together, the indicators and the price action were bullish on the 1-day timeframe. A price dip to $3.06, $2.75, and $2.45 may be possible in the coming days, especially alongside the bearish momentum of Bitcoin recently. Finally, the liquidation heatmap offered more clues about the next SUI move.

Source: Coinglass

The 3-month liquidation heatmap revealed that the $3.14 and $3 levels were the immediate liquidity pockets that the price would gravitate towards. Below that, the $2.8-level and the $2.3-level seemed to be magnetic zones. However, these levels might not attract the price strongly.

Hence, it may be highly likely that a price move to $3 would occur in the coming days. It could offer a buying opportunity, but cautious traders can gauge the sentiment around BTC before looking to buy SUI.

In case of a bullish reversal, the $3.9-level would be a liquidation cluster that bulls might target next.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion