Sui Price Prediction & Analysis: Bullish Structure Intact Despite 10% Three-Day Decline

TLDRSUI experienced a recent 8.8% price drop since May 2Technical indicators suggest a likely pullback to around $3 levelThe altcoin maintains a bullish market structure despite short-term retracementA “golden cross” formation may signal the end of a 7-week “death cross” phaseSUI recently failed to break through the $3.59 resistance levelSui (SUI) has experienced a pullback after posting strong gains in late April. The cryptocurrency has shed 8.8% of its value since Friday, May 2, following a period of impressive upward momentum.The altcoin had been on a recovery path, reclaiming a bullish market structure on daily charts after surging past the previous lower high of $2.78 on April 23.This recent rally coincided with Bitcoin’s swift movement from $85,000 to $93,000. However, as Bitcoin faced rejection at the $97,000 level, SUI followed its downward trajectory.Despite this recent price decline, technical indicators suggest that SUI maintains an overall bullish market structure.The Chaikin Money Flow (CMF) rose above +0.05, indicating substantial capital flows into the market. The Money Flow Index (MFI) reflected bullish momentum without forming a bearish divergence on the daily timeframe.SuiSUI PriceShort-Term Price TargetsAnalysis of the 3-month liquidation heatmap reveals that $3.14 and $3 levels represent immediate liquidity pockets that the price may gravitate towards.Below these levels, both $2.8 and $2.3 appear to be magnetic zones, though these might not attract the price as strongly.This technical evidence suggests a price move to around $3 could occur in the coming days. This potential dip might present a buying opportunity for traders.Should a bullish reversal occur, the $3.9 level represents a liquidation cluster that bulls might target next.The recent 10% price drop over just three days raised some concerns, but many market watchers view this as a healthy correction rather than the beginning of a longer downtrend.Technical Signals Point to RecoverySUI’s failure to break through the $3.59 resistance level contributed to the recent cooldown. This price point has proven difficult to surpass, leading to a pause in the rally.The pullback aligns with a dip in the Relative Strength Index (RSI), which had entered overbought territory during the rally. This cooling-off period became almost inevitable as traders took profits and the price adjusted accordingly.A key signal that traders are watching closely is the potential formation of a golden cross, a pattern that often signals the beginning of a bullish trend. This occurs when the 50-day exponential moving average (EMA) crosses above the 200-day EMA.For SUI, this golden cross could mark the end of the “death cross” phase that has dominated the market for the past seven weeks.Although the price dipped below the critical $3.16 support level, broader market indicators remain favorable for further gains. SUI’s RSI is now stabilizing just below the overbought zone.Investors are particularly focused on SUI reclaiming support at $3.16. If the price maintains this level and regains strength, it could lead to a retest of the $3.59 resistance level.However, if the price fails to find solid support and continues to drop below $3.16, SUI could face a deeper correction, potentially heading toward the $2.77 mark.For swing traders, keeping an eye on the psychological round number support at $3 may prove valuable in the days ahead.The post Sui Price Prediction & Analysis: Bullish Structure Intact Despite 10% Three-Day Decline appeared first on CoinCentral.