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.