- SUI has fallen to around $0.89 after a broader crypto market pullback.
- Analysts believe the token may be forming an accumulation structure similar to the 2024 rally setup.
- Maintaining support above $0.50 remains critical for the longer-term bullish outlook.
SUI hasn’t had the easiest few months. As the broader crypto market cooled off, many altcoins went through sharp corrections, and SUI was pulled down right along with them. The token now trades around $0.89, which is a noticeable drop from the highs it reached earlier in the cycle.
Still, not everyone thinks the decline is purely negative. Some analysts are starting to argue that the current structure could actually be part of a larger setup forming underneath the market. Crypto analyst Crypto Patel recently shared a chart suggesting that SUI may be building a pattern that looks surprisingly similar to the accumulation phase seen earlier in 2024 — the same period that eventually led to a powerful rally.
The logic is fairly simple, really. Large bullish runs often begin after a deep retracement inside an existing trend. And according to Patel’s view, SUI might be sitting right in the middle of that kind of setup.
Fibonacci Levels Highlight a Critical Support Zone
Looking closer at the chart, SUI has retraced down to the 0.786 Fibonacci level, which sits near the $0.78 region. Traders tend to watch this level carefully because deep retracements within an overall uptrend often attract buyers looking for discounted entry points.
What makes this zone more interesting is that the Fibonacci level aligns with a long-term ascending trendline that has supported the market since early in the cycle. When two major technical signals meet at the same area, that region often turns into a strong support zone — at least temporarily.
On Patel’s chart, there’s a visible accumulation range stretching roughly from $0.70 to $0.90. Recently, SUI has dipped into this area and managed to stabilize, which could suggest that buyers are slowly stepping back into the market. Not aggressively… but gradually.
Another important level sits much lower, around $0.50. According to the analysis, maintaining support above this point on the weekly timeframe is critical. A weekly close below that level would likely weaken the broader bullish structure and could signal a deeper market shift.
Traders Compare Current Structure to the 2024 Cycle
One of the more intriguing parts of Patel’s analysis is the comparison with the 2024 market structure. During that earlier cycle, SUI spent several months drifting sideways after a long pullback. The market formed a slow, rounded base as traders accumulated positions.
Once that consolidation phase ended, the token launched into a massive rally — gaining more than 1,000% during the expansion period.
The current chart appears to be forming a somewhat similar pattern. SUI’s price has been gradually building a rounded structure near strong support levels. If that pattern continues to develop, it could eventually lead to another upward move once broader market conditions improve.
The projection on the chart suggests that recovery may begin slowly at first, followed by a sharper breakout later in the cycle.
Possible Price Targets if Momentum Returns
If the bullish structure holds, several price levels could come into focus during the next expansion phase. The first major level sits near $1.80, which previously acted as a resistance zone. A move above that price would likely indicate that the market is regaining strength.
Beyond that, the next milestone sits around $4.00 — a level SUI has already approached during earlier stages of the cycle. Breaking that range would likely draw more attention from traders and investors across the market.
Further out, the chart outlines much larger potential targets at $10 and even $20. Reaching those levels would represent a roughly 25x increase from the current price region, though moves like that typically require strong momentum across the entire altcoin market.
Large rallies in smaller-cap assets often happen only after Bitcoin stabilizes and capital begins flowing back into alternative projects.
Why Traders Are Watching SUI Closely
Right now, SUI sits in a price zone that many traders consider both risky and potentially rewarding. Deep pullbacks can feel uncomfortable — sometimes painfully so — especially after months of declining prices.
But historically, these same zones have also been where some of the biggest crypto rallies begin.
For now, the key level to watch remains $0.50. As long as the price stays above that support, the larger bullish structure outlined in Patel’s chart remains technically valid. If the current accumulation phase continues and the broader market improves, this quiet period could eventually be remembered as the stage that came just before SUI’s next major cycle.
