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$SUI has dropped 30% from recent highs but holds above key trendline support. ETF filings and broker integration are fueling hopes for a rebound toward the $2.35 mark.
In the increasingly turbulent crypto market, the declining $SUI price trend undermines the recent falling wedge breakout. The $SUI market price is down by 30% from its recent swing high of $2.77.
As $SUI struggles to reclaim the $2 psychological level, will lower price rejections reignite the wedge breakout rally?
$SUI Price Analysis
On the daily chart, the $SUI price trend shows a bullish failure to sustain above the R2 pivot resistance level at $2.78, leading to a sudden plunge along with the broader market correction.
SUI broke below the $2 mark, with the recent downswing creating a 7-day low at $1.71. Currently, the $SUI token is trading at $1.95.
With multiple rejection candles at lower prices, $SUI is holding above the recently broken resistance line, which suggests a possible reversal on the daily chart.
However, increased price fluctuations are evident between the center pivot level at $2.11 and the S1 pivot level at $1.68.
Interactive Brokers Opens Doors for $SUI as Canary Files for ETF
Despite the recent increase in volatility, institutions are signaling optimism for $SUI. Recently, Canary Capital filed list $SUI ETF on the Chicago Board Options Exchange.
Additionally, Interactive Brokers, a global brokerage giant, has expanded its support for $SUI. The firm has added $SUI tokens to its crypto lineup.
Interactive Brokers operates in over 160 countries, making $SUI more accessible alongside stocks, options, and futures. This is expected to lead to increased adoption and global support.
TradFi keeps entering the chat.@IBKR, a global brokerage giant, has chosen $SUI as one of the few tokens added to its crypto lineup.
Clients in 160+ countries can now trade $SUI alongside stocks, options & futures — 24/7, low fees, wallet withdrawals.
Another major move for…
— Sui (@SuiNetwork) April 8, 2025
$SUI Price Targets
As $SUI holds above the broken resistance trendline, the possibility of a bullish comeback remains strong. A post-retest reversal rally will likely target the R1 resistance pivot level, which aligns with the 61.80% Fibonacci level at $2.35.
On the other hand, the crucial support for $SUI is at the 78.60% Fibonacci level, around $1.55.