SUI Plunges 18%: Key Support Lost, What’s Next for the Crypto?

by

<a href="https://jpykr.com/sui-usd/">SUI</a> Lost Key Support and Is Down 18%: What Can Come Next

Key Takeaways:

  • SUI down 18% weekly, broke 0.786 Fib at $0.927 and ascending trendline together.
  • Price below all three SMAs: SMA50 at $1.005, SMA100 at $0.967, SMA200 at $1.218.
  • Next support at $0.80-$0.82, the zone that launched the March-April rally to $1.40.
  • 0.618 Fib at $1.030 is heavy resistance with liquidity stacked on both sides.
  • Van de Poppe: free transactions, Hashi BTC yield, DeepBook, and USDSui are underpriced.

SUI is currently trading at $0.905, which is a 2% decrease for today and about an 18% drop for the week. The price hasn’t fallen suddenly, but has gradually decreased, recently breaking through two levels of support that were previously keeping the price stable.

The price recently dropped below a key support level at $0.927, which was based on Fibonacci retracement analysis. This level had provided buying support for several weeks, but it now seems to have failed. The price closed below this level yesterday, and today’s trading suggests it’s unlikely to recover.

A key upward trend that began in late March was broken at the same time as a significant Fibonacci level. This trendline had acted as support for the price over the past two months, connecting the low point in March with the price movements in April and May. When price falls below both a horizontal support level and an upward trendline at the same time, it’s a stronger signal. These two important indicators both seem to have failed, at least for now.

SUI is currently trading below all of its key moving averages – the 50-day average at $1.005, the 100-day average at $0.967, and the 200-day average at $1.218. These averages are all trending downwards and are acting as resistance above the current price. There’s no upward-trending moving average offering support below. The Relative Strength Index (RSI) is at 36.68, significantly below its signal line at 47.75, indicating a continuing downward trend, not just a short-term dip. While the RSI isn’t yet at extremely oversold levels, it suggests the price could still fall further before potentially finding support from buyers, as seen in past patterns.

If selling continues, where price could find support

The next significant support level is between $0.80 and $0.82. SUI traded within this range in late March and early April, and that’s where the recent price increase to $1.40 began. The price stabilized there for a while, indicating buyer interest. An additional support level is at $0.795, based on Fibonacci retracement. A drop to $0.80 from the current price would represent a further decline of 11-12%.

What recovery actually requires

For the price to start recovering in a significant way, it first needs to clearly break above the $0.927 level (the 0.786 Fibonacci retracement). Simply reaching it isn’t enough – the price needs to close above this level and then successfully test it as support. This is the least we’d need to see to suggest buyers are starting to regain control.

The 100-day Simple Moving Average at $0.967 and the 50-day Simple Moving Average at $1.005 are currently very close together, only $0.038 apart. To move past these two downward-trending averages quickly would require strong and sustained buying interest, rather than just a temporary price increase.

The key level to watch for a genuine price recovery is $1.030, which corresponds to the 0.618 Fibonacci retracement. The price has repeatedly tested this level over the past week – breaking above it, falling back below it, and reversing direction multiple times. This back-and-forth movement has created a buildup of potential buy and sell orders around $1.030. Below the level are stop-loss orders from buyers who were previously forced to sell, and above it are stop-loss orders from sellers who were forced to buy. If the price rises towards $1.030 again, this pent-up supply and demand could trigger a strong reaction, meaning even a recovery reaching the SMA50 area might struggle to break through $1.030 without a significant surge in trading volume.

Van de Poppe’s case for accumulating at these levels

His reasoning doesn’t come from the chart itself. Instead, he’s focusing on the development happening on the network even as the price goes down, and he believes the market is overlooking four key factors.

Hashi is a product that allows Bitcoin owners to earn rewards on their Bitcoin within the Sui network. Instead of letting Bitcoin sit unused, Hashi provides a way to generate returns without needing to sell it.

DeepBook is Sui’s built-in system for handling trades, allowing developers to create a wide range of financial markets directly on the blockchain. This includes things like options, leveraged trading, and prediction markets, all operating on a single foundational layer. This makes Sui a platform for building financial products, not just a place to trade them.

I’m considering adding $SUI into my #Altcoin portfolio.

Right now, the market is significantly misvaluing many investments, creating excellent opportunities for gains in various sectors.

I do think that, with that reason in mind, $SUI should be an anchor to my portfolio in…

— Michaël van de Poppe (@CryptoMichNL) May 29, 2026

As a researcher, I’ve been particularly impressed by Sui’s commitment to free transactions. This isn’t just a nice feature – it’s potentially transformative. My focus is on how this impacts AI agents, those autonomous programs constantly seeking the most efficient way to operate. These agents need a settlement layer that’s cheap, fast, and reliable, and Sui offers exactly that. Essentially, if a blockchain can provide secure, speedy, and *free* transactions, AI agents will gravitate towards it – and that’s the core idea behind Sui’s design.

USDSui is a new stablecoin now available on the platform, allowing users to make transactions with actual monetary value. According to Van de Poppe, this launch is just the beginning, and the real benefits will appear as the platform’s ecosystem expands and matures.

Look, I get it – none of these developments are going to instantly make the price jump. Building a strong ecosystem takes time, plain and simple. But honestly, at 90 cents, it feels like the market isn’t even *considering* any of that potential. It’s like all the good stuff happening is being completely ignored right now.

The tension that defines the current setup

The current market data and the basic reasons for investing in SUI are conflicting. From a technical standpoint, SUI has fallen below two important support levels and is trending downwards, with potential for further decline according to the RSI. It could realistically drop another 11-12% before finding solid support.

A well-respected analyst specializing in altcoins is stating that this particular coin is a core part of his investment strategy, even as the market reaches new lows.

It’s possible for a valuable asset to continue dropping in price if the overall market is fearful and facing economic challenges, even with positive developments happening within that asset’s ecosystem. With Sui, the real question isn’t *if* its progress is genuine – it is – but whether the market will recognize that progress before or after the price falls to between $0.80 and $0.82.

This article is for informational purposes only and shouldn’t be considered financial, investment, or trading advice. Coindoo.com doesn’t support or suggest any particular investment or cryptocurrency. Always do your own research and talk to a qualified financial advisor before investing.

Read More

2026-05-29 18:11