SUI Ready For $7 Price Target As Market Pressure | Crypto News
Amid a new wave of financial tensions between the US and China, Sui (SUI), alongside other cryptocurrencies, has skilled a heavy price decline in the past few hours as traders transfer their capital into more steady belongings. Despite this mayhem, distinguished market analyst Ali Martinez is backing SUI’s bullish potential, projecting the altcoin to set up a new all-time high before 2025 ends.
SUI’s Path To $7Â
In an X post on October 11, Ali Martinez shares an in-depth market analysis indicating that SUI could also be on the verge of a major breakout. Notably, the daily SUI/USDT chart reveals a tightening price sample, suggesting an impending important price upswing supplied the cryptocurrency can obtain a breakout from its current consolidation vary.
Based on Martinez’s analysis, SUI is forming a symmetrical triangle sample that has been developing since early 2025. This construction is often characterised by converging trendlines, representing decrease highs and larger lows, which replicate a period of declining volatility previous a decisive price transfer.
According to the chart above, a confirmed breakout above the $3.59 (0.618 Fibonacci retracement degree) would set off a sharp bullish wave. The projected path, based on Fibonacci extension targets, locations potential resistance factors around $4.25 (0.786 Fibonacci extension), $5.28 (1.0 Fibonacci extension), and finally $6.97 (1.272 Fibonacci extension) – $7.00. Therefore, this transfer may signify a 100% market gain on current SUI costs.
However, traders ought to also observe that a failed breakout or rejection close to the higher boundary may lead to renewed weak point. A dip below the $3.18 (0.5 Fibonacci) degree would invalidate the bullish setup and expose SUIÂ to potential declines toward $2.82 or even $2.44.
SUI Market Overview
At the time of writing, SUI trades at $2.67, reflecting a steep 24.74% decline over the past 24 hours. Meanwhile, daily trading quantity has surged by 295%, signaling heightened market exercise as merchants react to the sharp selloff. On the broader time body, SUI has misplaced 27.85% over the past week, extending its bearish momentum.
The downturn in SUI mirrors the broader crypto market, which has reacted sharply to latest geopolitical developments. Markets tumbled after US President Donald Trump announced plans to impose a 100% tariff on Chinese items, a transfer framed as retaliation against China’s reported intentions to introduce sweeping export controls on a big selection of merchandise.
In the aftermath of the announcement, the global cryptocurrency market has dropped 9.75% in the past 24 hours, with whole market cap now hovering around $3.75 trillion.
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