Crypto analyst Rekt Capital is sounding the alarm on SUI’s recent price action. In a new update, the analyst explains that SUI/USDT failed to maintain bullish momentum after a critical Monthly Close in late May.
At the time, SUI had been poised to replicate a bullish pattern from late 2024, where price retested the $3.39 level and launched higher. But this time, the token couldn’t hold the line. The May Monthly Candle closed below $3.39, signaling potential weakness.
Early June Shows Resistance at $3.39
As June begins, price action suggests $3.39 may now act as resistance, not support. Rekt Capital notes early wicks into this zone, warning that failure to reclaim it could confirm a rejection in the coming weeks.
Right now, SUI trades within a broad $2.33–$3.39 range, with bulls attempting to reclaim the upper boundary. So far, that effort hasn’t gained traction. If SUI continues to hover without making progress above $3.39, a deeper drop could follow.
Watching Key Mid-Range Support
While the Range Low near $2.33 offers potential downside support, Rekt Capital also highlights the $2.81 mid-range level. This zone has previously acted as both weak resistance and support, and may attract price again if momentum fades.
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The analyst emphasizes that Daily Closes above $3.39 would be an early sign of strength. Without that, however, sub-$3 levels remain likely, keeping SUI under pressure throughout June.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/market/sui-struggles-below-key-resistance-as-rejection-risk-grows/