SUI Price Forecast: Descending Triangle Pattern Signals Potential Drop to $2.70
SUI (SUI) declined over 1.50% on Monday, marking its third consecutive bearish weekly close. While the project avoided panic selling from Sunday's 58.35 million token unlock, analysts warn the descending triangle pattern could push prices toward $2.71. Key factors:
- Technical Breakdown: The triangle's lower trendline breach suggests extended losses
- Market Sentiment: Neutral-to-bearish positioning dominates SUI derivatives
- Support Levels: $2.80 (psychological level) → $2.71 (January 2025 low)
Bitcoin Price Recovery Hinges on Overcoming $105,800 Resistance Cluster
BTC showed modest recovery at €105,500 during Monday's European session after last week's 5.5% drop from €109,000 to €103,200. Critical observations:
✅ Key Resistance: $105,800 combines:
- 0.786 Fibonacci retracement
- 50-day EMA
- Previous consolidation zone
✅ Market Indicators:
- Long-term holders continue accumulating
- Futures open interest rises despite spot market outflows
Current Crypto Market Sentiment: Geopolitical Tensions Dampen Risk Appetite
Early week trading reflects caution as:
🔴 Macro Factors:
- Escalating Russia-Ukraine tensions
- Strengthening USD index (DXY)
🔴 Institutional Flows:
- Bitcoin ETFs record first weekly outflows since mid-April
- $260M net withdrawals signal temporary pause in demand
Altcoins Facing Unlock Pressure
| Token | Unlock Date | Amount (USD) | Circulating Supply Increase |
|----------|------------|-------------|----------------------------|
| Ethena | June 5 | $9.2M | 2.9% |
| Taiko | June 7 | $7.8M | 3.4% |
| Neon | June 9 | $6.1M | 1.8% |
👉 Real-time cryptocurrency market analysis
FAQ Section
Q: Should I buy SUI at current prices?
A: Wait for confirmation of support hold at $2.80. The descending triangle pattern favors sellers until broken.
Q: What's driving Bitcoin's price volatility?
A: Combination of geopolitics, ETF flows, and miner capitulation after the halving.
Q: How do token unlocks affect prices?
A: Unlocks typically increase selling pressure unless offset by strong demand. Track exchange inflows post-unlock.
👉 Comprehensive guide to trading crypto unlocks
Strategic Takeaways
- Bitcoin: Bulls need weekly close above $106,000 to regain momentum
- SUI: Breakdown below $2.95 opens path to 2025 lows
- Market: Risk-off sentiment may persist until geopolitical clarity emerges