SUI’s recent refusal at a key resistance area has handed control back to the bears, keeping the asset trapped in a sustained downtrend. As the downtrend continues to dominate, attention is shifting towards key support levels that could determine whether SUI is heading for further losses or is approaching a potential bottom.

The fifth wave of SUI decline keeps bears under control

More Crypto Online analysis He highlights that the SUI continues to be under significant downward pressure, suggesting that the market is likely to continue to develop a fifth wave of declines. While the structure of the higher time frames remains open to interpretation and accommodates both bullish and bearish outcomes, the overwhelming trend remains firmly toward lower prices.

The leading scenario shows that the critical support region is between $0.65 and $0.49. This zone is identified as a potential base where corrective wave B may end, setting the stage for a significant low. However, until the asset stabilizes within this range, the structural trend should be viewed as bearish.

A more negative scenario of the risk of white spots is also being monitored. This bearish alternative would gain traction if the market fails to maintain the support cluster between $0.65 and $0.49. A break below this level would mean that the current correction is likely to deepen.

Ultimately, the SUI is rapidly approaching this major support area, which serves as the primary monitoring zone for signs of stabilization. While this is a key area for potential buyers, any credible bullish case remains dependent on the market showing a clear 5-wave rally once these support levels are reached.

A rejection at micro resistance signals a greater risk of loss

After being rejected from the micro-resistance zone between $0.747 and $0.855, cryptocurrency analyst MCO Global notes that the asset is likely to see at least one and potentially two additional lows. While structural interpretations have been complicated by distortions caused by the October crash, the analyst maintains that the overall downward direction remains clear.

Key support levels are currently pegged at $0.65 and $0.49. These areas will be key to determining whether an asset can bottom or whether current momentum will push it into deeper territory. As long as the price remains below the resistance zone, the market is still in a sustained downtrend.

The analyst emphasizes that the basic condition for changing the narrative is a break above USD 0.855. Achieving this would be the first technical sign that the intense downward pressure is finally starting to ease. Until such a move occurs, SUI remains anchored to its current bearish structure.