In the ever-volatile world of cryptocurrency, the SUI token is facing a critical juncture as it struggles to maintain its recent gains amid a broader market pullback. Following a 6.61% drop on March 28, 2025, SUI is trading at $2.5938, raising questions about its ability to hold above the psychologically significant $2 mark.
Today, Bitcoin experienced a dip of 2.37%, which has had a ripple effect on altcoins, including SUI. This downturn comes after SUI had shown signs of recovery, with a notable 6.11% increase just a day prior. However, the recent pullback has led to concerns about a potential breakdown below the $2.5 support level, which could trigger another retest of the $2 mark.
On the daily chart, SUI had previously demonstrated a bullish breakout from a falling wedge pattern, marking a turnaround from the $2 support level and achieving a 33% price recovery over the last 16 days. Despite this positive movement, the token has struggled to surpass the dynamic resistance posed by the 50-day exponential moving average (EMA), leading to the formation of a bearish engulfing candle that ended a streak of six consecutive bullish candles.
Adding to the bearish sentiment, the 50-day and 200-day EMA lines have formed what is known as a "death cross," a technical indicator often seen as a sign of further declines. Analysts are now watching closely for a potential negative crossover between the 100-day and 200-day EMA lines, which could further signal a downturn.
Despite the prevailing bearish trend, some analysts remain optimistic about SUI's future. Crypto analyst Javon Marks has pointed out a hidden bullish divergence in the SUI price trend on the two-day timeframe. He notes that while the price trend has formed higher highs, the two-day Relative Strength Index (RSI) has remained stagnant, suggesting that a bullish wave could be on the horizon. Marks stated, "$SUI has just recently confirmed a Hidden Bullish Divergence Pattern and the strength being shown could only be the start of the next wave!"
Meanwhile, fellow analyst Ali Martinez is also forecasting a continuation of the bullish trend on the weekly timeframe. He has identified critical price targets for SUI at $2.88 and $3.25, which are derived from Fibonacci levels on the weekly chart. Martinez highlighted a notable 25% surge that followed a timely buy signal from the TD Sequential Indicator, suggesting that if the bullish momentum persists, these targets could soon be within reach.
As the market continues to react to fluctuations in Bitcoin's price, the SUI token's ability to navigate this challenging environment will be crucial. Investors are keenly watching for signs of recovery or further decline, particularly as it hovers near critical support levels.
In a parallel development, Shiba Inu (SHIB) has also made headlines this month, rallying 45% in March, which helped it avoid a breakdown from a significant support level. However, the trend reversed sharply on March 26, 2025, causing SHIB to lose most of its monthly gains. Currently, all eyes are on the confluence of long-term support levels at $0.0000113. A breakdown below this level could trigger a significant decrease in price.
Since June 2023, SHIB has been on an upward trajectory alongside an ascending support trend line, which was validated several times. Most recently, in March 2025, SHIB bounced at the intersection of this trend line and the $0.0000113 horizontal support area. However, despite the bounce, SHIB has failed to clear the $0.0000156 horizontal resistance area this week, raising concerns about its ability to maintain upward momentum.
Technical indicators such as the RSI and Moving Average Convergence/Divergence (MACD) are currently leaning bearish, with both indicators trending downward and remaining below their bullish thresholds. This suggests that the price action and indicator readings may not be sufficient to predict a positive future trend for SHIB.
Long-term wave count analysis for SHIB appears bearish, indicating that the price could break down from its confluence of support levels. Analysts suggest that the completed five-wave downward movement after SHIB's all-time high in 2021, followed by an A-B-C correction, points to a bearish trend. If the current decline is indeed an A-B-C structure, it could lead to a low of $0.0000077. In a more pessimistic scenario, where the decrease is viewed as a five-wave downward movement, the price could fall below the 2023 low of $0.0000054.
The SHIB price action has prevented a breakdown from a long-term support level with its recent rally, but the inability to sustain this increase puts it at risk of another decline. Analysts warn that a breakdown from the $0.0000113 support level will confirm the bearish trend, potentially leading to new lows in the near future.
As both SUI and SHIB navigate their respective challenges, investors are left to ponder the implications of these trends. The cryptocurrency market remains unpredictable, and both tokens are at pivotal points that could shape their trajectories in the coming weeks.
