- SUI breaks below neckline at $2.85, confirming a textbook head and shoulders pattern with clear bearish momentum on the daily timeframe.
- Price now trades under both the 9-day EMA and 50-day SMA, reinforcing short-term bearish control and a continuation of lower highs and lows.
- Volume increases during the breakdown phase, supporting a bearish outlook with projected downside targets near the $2.20–$2.00 technical range.
SUI has confirmed a head and shoulders pattern breakdown on the daily chart, with lower highs and lower lows now taking shape. Traders are closely watching for any weak retests into the neckline zone.
Breakdown in Motion After Neckline Breach
According to Alpha Crypto Signal’s tweet, the textbook head and shoulders pattern on SUI has completed its right shoulder and broken below the neckline. This key level, located around $2.85, has now turned into resistance. The price action that followed confirmed the bearish reversal, as SUI continues to print a clean downtrend of lower highs and lower lows.
Technical indicators further support the bearish outlook. SUI now trades below the 9-day EMA at $2.87 and the 50-day SMA at $3.45. These moving averages suggest strong downside momentum. A consistent close below these indicators typically signals further weakening in price action. With increasing volume accompanying the recent drop, the breakdown appears technically supported.
Bearish Bias Remains Below Key Level
The tweet emphasized that unless bulls reclaim the neckline zone quickly, downside pressure could persist. A weak retest of the broken neckline may offer short opportunities, especially if price fails to reclaim support and volume remains low on the bounce. In the absence of bullish reclaim efforts, the path of least resistance remains to the downside.
At the time of writing, SUI was trading at $2.49, down -4.76% in the last 24 hours and down -8.98% in the last week. The selling momentum dovetails the overall trend seen on the chart, and there are no clear reversal signals at this time. The inability to reclaim lost levels confirms bearish control in the current phase.
Possible Targets and Strategy Outlook
If the pattern continues to play out, technical projections point toward the $2.20–$2.00 range. These targets are derived from the measured move following the neckline break. Traders watching for re-entry points may consider short positions only if the price fails to regain the neckline level on low volume.
Until the neckline is reclaimed decisively, bearish setups may dominate SUI’s short-term outlook. Traders are advised to monitor volume behavior closely on any retests of broken support zones.
