Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Sui risks dip below $1 as stocks, crypto plummet

Sui risks dip below $1 as stocks, crypto plummet

CoinjournalCoinjournal2025/04/08 00:33
By:Coinjournal
Sui risks dip below $1 as stocks, crypto plummet image 0
  • Sui price has nosedived 15% in the past 24 hours to extend losses below $2.
  • With crypto markets in turmoil, the altcoin risks falling under $1.
  • SUI traded near $1.86 at the time of writing, with technical indicators signaling bearish strength.

The cryptocurrency market has mirrored stocks in selling off these past few weeks, a scenario that sees Sui (SUI) risk fresh losses to under $1.

As of writing, Sui’s price has plunged to $1.86, marking a steep 15% decline in the last 24 hours, according to CoinMarketCap.

This drop comes amid a broader market downturn.

Bitcoin price shed gains to near $76k, with the total crypto market shedding 7.2% over the past 24 hours.

However, Sui’s 18% weekly decline, as per CoinGecko, signals it’s underperforming compared to its peers, raising concerns about a potential slide below the critical $1 mark.

Sui price market outlook

Sui’s trading volume has surged to $1.56 billion in the last 24 hours, indicating a 256% increase.

In the current market scenario , this suggests panic selling.

CoinGlass further highlights the bearish sentiment, with $10.2 million in long positions liquidated over the same period, as over-leveraged traders got caught off-guard.

The long/short ratio sits at 0.92, showing a slight bearish tilt, while open interest in Sui futures dropped 8.3% to $320 million, reflecting waning confidence.

Meanwhile, negative funding rates of -0.015% on perpetual contracts underscore the dominance of short sellers in the market.

Sui technical indicators

The daily chart also paints a gloomy picture for SUI. Among technical indicators signaling bears are in control, the relative strength index (RSI) has dipped to 33.

The MACD indicator also suggests bearish strength with the histogram showing rising weakness.

This outlook suggests the SUI price could fall to $1.12 and then below the 100 cents level.

If the psychological level fails to hold, the next demand reload one could be $0.72.

However, if prices bounce, Sui could target a retest of $2.0.

The immediate resistance level on the upside above this threshold could be $2,77.

Sui risks dip below $1 as stocks, crypto plummet image 1 Sui price chart by TradingView

Nonetheless, the main pressure is on bulls, who will need steady market recovery to keep recent gains.

What this means is that Sui will likely mirror broader market dynamics, which currently aren’t helping buyers.

As Anthony Pompliano noted on X , ongoing tariff negotiations and a “shock and awe” strategy are creating a chaotic, risk-off environment for speculative assets like cryptocurrencies.

But there might also lie a buy-the-dip opportunity.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!