- SUI plunged 4.05% to $2.93 after peaking at $4.30, following a 150% surge.
- A $215 million token unlock on June 1 triggered intense selling and halted bullish momentum.
- If the inverse head and shoulders are confirmed, SUI may rally with a 380% potential upside.
SUI’s price continues to show notable volatility, trading at $2.93 after a 4.05% drop over the past 24 hours as of June 13, 2025. Despite the setback, the altcoin remains under the spotlight following an extraordinary 150% rise from $1.71 to a recent high of $4.30.
The bullish momentum came to a halt after a major token unlock event on June 1. The circulation of $215 million worth of SUI tokens triggered intense selling pressure, shaking investor confidence and causing abrupt market shifts.
SUI Support Zone Between $3.24–$3.43 Critical
Despite the short-term weakness, technical indicators suggest the potential for renewed upside. A golden cross is a signal where the 50-day moving average crosses above the 200-day has formed on the daily chart. Analysts believe this formation could drive SUI toward the $5 mark, with an expected 380% upside if momentum holds.
However, traders are urged to remain cautious. Broader market volatility and slow adoption rates continue to pose risks. Analysts stress the need for sustainable demand and active ecosystem growth to maintain any long-term bullish trajectory. Without these factors, the rally may struggle to gain consistent traction in the coming weeks.
Support levels between $3.24 and $3.43 remain key zones for buyers to defend. Resistance lies at $3.50, and a breakout above this could signal further bullish continuation. On the downside, failing to reclaim or hold these levels may expose SUI to deeper pullbacks and renewed bearish pressure.
Breakout May Trigger Upward Rally Soon
According to Cleanwater’s analysis on X, SUI may be forming an Inverse Head and Shoulders pattern, often seen as a bullish reversal signal. The pattern began on May 29 with a drop to $3.00, followed by a bounce to $3.39 by June 3, creating the first neckline.
A further drop to $2.84 on June 5 formed the pattern’s head. A strong raise then helped reach $3.55 on June 10, and the neckline has been retested. The final dip on June 13 to $2.91 potentially marks the right shoulder, validating the pattern and raising expectations of an upward move.
As of the moment, the price is stationary at $3.04, and the market observers are eagerly waiting for the confirmation. The enthusiasm for the bullish market may rekindle if this pattern gives out its signal as the strengthening catalyst for the way up to the top shortly.
Read More: SUI Price Analysis: Key Support at $2.91 Crucial as Bearish Momentum Builds
