SUI is struggling to hold on to the $4 level, which is a critical threshold for both bulls and bears. Technical analysis predicts that if the price breaks below the 200 EMA, it could drop to the $3.65 support, while in a bullish scenario, it could move towards the $4.80-$4.85 zone.
With the increasing volatility in the cryptocurrency market, SUI continues to struggle to stay above the $4 level. This psychological limit has become a major battleground for investors. If this support level is broken, it is estimated that the price could quickly drop to around $3.50.
Looking at the 4-hour charts, the SUI price is trading within an expanding channel pattern. The demand zone is between $3.48-$3.44, while the supply zone is between $4.80-$4.85. The current price action reflects the efforts to stay above the 200 EMA, which stands out as a critical support level. The increasing bearish pressure led to a negative crossover between the 50 EMA and 100 EMA lines. This shows that the selling pressure is strong in the short term. Failure to break through the resistance from the trend line indicates that the selling pressure continues.
In the bearish scenario, if the price falls below the 200 EMA, a decline to the $3.65 support is expected. This move could increase selling pressure and deepen the correction. In the bullish scenario, a breakout at the upper limit of the channel pattern could direct the price to the $4.80-$4.85 supply zone. A strong support at this level could increase investor confidence again and enable higher targets to be reached.
In the short term, the $4 level remains an important support point for SUI. Technical indicators show that market movements are concentrated at this level. It is of great importance for investors to carefully monitor the 200 EMA line and the $4.80 supply zone.