- SUI has completed a Bearish Cypher harmonic pattern after hitting a 24-hour high of $3.54, with the pattern's completion aligning with the 0.786 Fibonacci retracement level.
- Technical analysis suggests SUI may see a minor pullback toward $3.29 (38.2% Fibonacci retracement), representing a potential 7% drop from current levels.
- The $3.29 level is expected to act as a support area and possible bounce point, with any recovery potentially resetting bullish momentum for higher targets.
- If bearish pressure continues below the 38.2% level, the next critical support zone is identified at $3.14 (61.8% retracement).
Date: Tue, June 10, 2025 | 05:20 PM GMT
The cryptocurrency market has made an impressive upside move over the last 24 hours, with Ethereum (ETH) leading the charge—bouncing over 7% and pushing past the $2700 level. This broad strength also lifted major altcoins, including Sui (SUI).
However, after hitting a 24-hour high of $3.54, SUI has now retraced to around $3.40. A closer look at the technical setup suggests a short-term cooling-off period could be on the horizon.
Bearish Cypher in Play
The 4-hour chart reveals that SUI has completed a Bearish Cypher harmonic pattern. This classic harmonic structure is often known for signaling a short-term correction before the broader trend continues. The pattern’s D-point completion aligns near the $3.54 level, which coincides with the 0.786 Fibonacci retracement—typically regarded as the potential reversal zone (PRZ).
If this harmonic setup unfolds as expected, SUI may see a minor dip toward the $3.29 level — the 38.2% Fibonacci retracement of the C to D leg — indicating a potential 7% drop from the current price. This zone often acts as a support area and a possible bounce point for price action.
What’s Next for SUI?
While the broader trend remains bullish across the altcoin market, the harmonic signal in SUI suggests a brief pullback could occur. Such a move would be considered a healthy correction rather than a breakdown. Traders should monitor the $3.29 area closely—any bounce from this level could reset the bullish momentum and open the door for higher targets.
On the flip side, if bearish momentum extends below the 38.2% level, traders may look at the 61.8% retracement around $3.14 as the next critical support zone.
Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.
The opinions and market insights shared on CoinsProbe represent the views of individual authors based on prevailing market conditions at the time of publication. Cryptocurrency investments carry significant risk and volatility. Readers are encouraged to conduct their own research and seek professional financial advice before making investment decisions. CoinsProbe and its contributors do not accept responsibility for financial losses or decisions made based on published content.
CoinsProbe may publish sponsored articles, affiliate links, or promotional collaborations. All sponsored material is clearly labeled to maintain transparency with our audience. Our editorial decisions remain fully independent, and advertising partnerships do not influence reviews, rankings, or published opinions.
Since 2023, CoinsProbe has delivered reliable insights on cryptocurrency, blockchain, and digital assets. Our content is created by experienced researchers and analysts who follow strict editorial standards focused on accuracy, transparency, and credibility. Every article is carefully reviewed and verified using trusted sources and current market data. We provide unbiased analysis and timely updates covering everything from emerging crypto projects to major industry developments.
