SUI Price Prediction: Will the price of SUI retest the $2 mark as buyers fail to surpass the 50-day EMA line?

As Bitcoin drops 2.37% today, altcoins are experiencing an intense pullback. The SUI token has recorded an intraday pullback of 6.61% and is currently trading at $2.5938.

As Bitcoin drops 2.37% today, altcoins are experiencing an intense pullback. The SUI token has seen an intraday pullback of 6.61% and is currently trading at $2.5938.

This undermines yesterday’s recovery of 6.11% and raises concerns of a potential breakdown below the $2.5 psychological support. Could this lead to another retest of the $2 mark?

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SUI Wedge Breakout Rally Hits a Hiccup

On the daily chart, the SUI price action showed a bullish breakout from a falling wedge pattern. This marked a quick turnaround from the $2 support level, resulting in a 33% price recovery over 16 days.

However, the bullish recovery struggled to overcome the dynamic resistance of the 50-day exponential moving average (EMA), leading to an intraday pullback of 6.11% and forming a bearish engulfing candle.

This ends the streak of six consecutive bullish candles on the daily chart. Due to the prevailing bearish trend within the falling wedge pattern, the 50-day and 200-day EMA lines have formed a death cross. Additionally, the bearish influence warns of a potential negative crossover between the 100-day and 200-day EMA lines.

However, the short-term breakout rally has resulted in a positive crossover in the MACD and signal lines. As a result, the technical indicators show a diverging outlook, signaling increased uncertainty in the SUI price trend.

Analysts Remain Optimistic, Target $2.88

Despite the minor intraday pullback, crypto analyst Javon Marks highlights the possibility of a bullish comeback for SUI. Marks points to a hidden bullish divergence in the SUI price trend on the two-day timeframe.

While the SUI price trend maintains a higher-high formation, the two-day RSI line has remained stagnant at similar levels, indicating potential for a new bullish wave. According to the analyst, there is a strong possibility of a bullish reversal.

$SUI has just recently confirmed a Hidden Bullish Divergence Pattern and the strength being shown could only be the start of the next wave!

With this pattern suggesting the pullback from the $5 areas to be temporary, prices can be ready to nearly 2X to return there and higher… pic.twitter.com/Dgt47xwLtq

— JAVON⚡️MARKS (@JavonTM1) March 27, 2025

Furthermore, analyst Ali Martinez anticipates a continuation of the bullish trend on the weekly timeframe. Martinez highlights the next critical price targets for SUI at $2.88 and $3.25, derived from Fibonacci levels on the weekly chart. The analyst also notes a 25% surge following a timely buy signal from the TD Sequential Indicator.

$SUI surged 25% after a timely TD Sequential buy signal. If this bullish momentum continues, $2.88 and $3.25 are the next key levels. pic.twitter.com/XChKo8j23g

— Ali (@ali_charts) March 28, 2025

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.