Sui Coin Price Meltdown: Why It is Going Down and Will It Recover?

The cryptocurrency markets are back on a roller coaster ride with this coin in the spotlight. The layer-one blockchain token fell 7.52% within just 24h to $2.20 as investors scramble to understand the sudden plunge. But could this be a further precursor to collapse-or is it the ideal chance to buy on the dip?

Let’s break down the chaos and make sense of it all.

SUI Coin Price Current Market Snapshot

Source: CoinMarketCap

• Current Price: $2.20
  

• 24-Hour Price Drop: 7.52%
  

• Market Cap: $7.16 Billion (↓ 7.51%)
  

• 24-Hour Trading Volume: $1.23 Billion (↓ 19.85%)
  

According to CoinMarketCap , these numbers reflect clear weakness in buyer sentiment. But why did this happen?

Why Sui is Going Down Reasons: Will It Recover?

1: Big Token Unlock Caused Selling Pressure

$151 million worth of SUI tokens unlocked , a large amount was made available on the market on April 1. When this takes place, it means that the people who received the tokens can now sell them, which usually causes the price to drop.

This time, however, the price did not immediately crash. This means that many people must have held their tokens, which would be a positive sign. Still, selling certainly took place, which added further pressure to the market.

2: Trump’s Tariff News Affected All Markets

On April 2, former U.S. President Donald Trump announced new tariffs (extra taxes) on countries that tax U.S. goods. This news caused fear regarding the economy and sent worldwide financial markets including crypto down.

So it did not drop alone, many altcoins were also affected by the news. The whole crypto market did shrink a little to $2.66 trillion too.

SUI Token Price Analysis (Daily Chart)

As a seasoned crypto analyst, I took a deep dive into its technicals — and here's what the TradingView chart reveals:

Source: TradingView

1. RSI Status

The RSI is pegged at 42.37, indicating very clear bearish momentum; it has not yet been oversold, thus, there is a probability for a rebound.

2. MACD Signal

The MACD line (-0.0884) is below the signal line (-0.0924), confirming an active downtrend. However, the gap is narrowing, hinting at a possible bullish crossover if momentum shifts.

Key Levels

• Support: $2.10 — Currently holding as a crucial price floor
  

• Resistance: $2.50 — Bulls need to break above this for a trend reversal
  

It remains in a bearish phase, but there are early signs of a possible turnaround. Traders should watch closely for an RSI move above 50 or a MACD crossover, which could signal recovery. Until then, stay cautious and avoid heavy entries near resistance.

Sui Crypto Price Prediction (Short Term): What Comes Next?

Considering the present technicals, macro sentiments, and historical prices:

Short-Term Forecast (up to 7 days):

• Assuming that this altcoin shall hold $2.10 and the market stabilizes, we could see a reversal to $2.35–$2.40.

• Otherwise, a break below $2.10 would allow for a drop towards the next strong support at around $1.90.

In my own humble opinion as a crypto analyst, this is not a time to panic but to strategically observe and prepare. The whales are probably eyeing the same zones, and we could see heightened accumulation if $2.10 stands firm.

Final Thoughts: Risk-Managed Patience is Key

Yes, the SUI price drop might send panic among its holders, but it is not a conclusion to many, as token unlocks and general macro chaos coupled with weak technicals have combined to make a perfect storm - but all storms eventually pass.

Stay smart, track the key indicators, and don't fall for the FUD. It might just be a shakeout before the next breakout.