SUI Price Drops 4% as Analyst Predicts a Potential Rally to $40 in the Medium Term

Highlights:

• Sui price plummets 4% to $1.99 following the market-wide crypto downturn. 
• Despite the wobbling crypto market, its trading volume has spiked over 400%, igniting confidence among investors.
• A crypto analyst has highlighted a potential rally to $40 in Sui price in the medium term.

The SUI price has plunged 4% to the $1.99 mark as the crypto market experienced a downturn. However, despite the wobbling crypto market, the SUI trading volume has spiked by over 400%, indicating intense market activity. The recent market crash saw major altcoins such as Bitcoin, Ethereum, and XRP drop over 5% each before a rebound. The crypto market is showing signs of recovery, as BTC has reclaimed the $80,000 mark. 

Despite the prevailing bearish sentiment, market analysts are still bullish on the SUI Token. According to CryptooElites on X, the price of SUI could spike to $40 in the medium term. He also mentioned that ‘technically, we are sitting in a prime buying zone. I expect an upward move to start soon!’

SUI Mid-Term Target: $40

Technically, we are sitting in a prime buying zone. I expect an upward move to start soon!

Tg : https://t.co/ngqIcECqF5#SUI $SUI #Crypto #Sui $Sui pic.twitter.com/cFCzzFAP2T

— @CryptoELlTES (@CryptooELITES) April 3, 2025

Sui price is facing a strong bearish prospect; however, with the crypto market rebounding, a recovery to $4 may be on the horizon. Let us dive into the SU price technical outlook and decrypt more on SUI.

Sui Price Outlook

The SUI price has consolidated within a descending parallel channel as the crypto market attempts a recovery. Despite the recovery, the SUI price is still down 4% to the $1.99 mark as the bulls begin to show strength. Meanwhile, SUI prices still trade below the key moving averages, painting the big picture bearish. Currently, the immediate support lies at $1.85; past investors may decide to re-enter this area. 

A persistent bullish resistance will confront traders at $2.56, and the major resistance will appear at $3.14. If the price rises above this area to continue its upward movement, it will target the stronger resistance at $4. The Sui price currently operates under stable skies but could change its tune if it breaks through the $2.56 mark. This move would introduce more hopeful market conditions.

Chasing Echoes of Greatness: Can SUI Reclaim $4?

Sui is $1.99 today, making it difficult to recognize as the cryptocurrency that reached $5.35 only several months ago when it received widespread acclaim. Sui occupies rank 17 on CoinMarketCap with minor media buzz in crypto forums even though it lost its position as a crypto star. Although the value has decreased, the prevailing storyline about Sui remains intact.

Meanwhile, the token may drop further if the SUI selling bearish momentum mounts. In such a case, $1.85 support will absorb the potential selling pressure. A break below this level will cause a deeper correction to $1.82, 1.61, and $1.47, respectively. A quick look at the MACD momentum indicator supports the bearish movement, which has flipped below the orange signal line.

In the meantime, rising trading volume indicates intense market activities among investors, which may cause a rebound. For now, all investors and traders should closely monitor the support and resistance levels to determine the next direction in the SUI market.