Crypto’s Black Monday: SUI Crashes By a Whopping 40%, Panic Grips the Market

SUI has suffered a dramatic price collapse, joining the crypto market crash on April 7, which is being dubbed as the ‘Black Monday’. The token plunged by 20% in the last 24 hours, marking its lowest point since October 2024. Industry leaders have called this day the ‘Black Monday’, drawing a comparison to the infamous 1987 stock market crash. 

As of now, SUI is trading at $1.76, down from $2.20 before the crypto market crash. The downturn aligns with the overall market trend, with famous coins like Bitcoin and Ethereum facing staggering drops. These price movements are being linked to the newly announced global import tariffs by Donald Trump. Market-wide panic sell-offs have ensued, and technical indicators are signalling bearish pressure for SUI. 

Indicators Hint At Potential Reversal

The Relative Strength Index (RSI) on the daily chart has fallen below 30. This indicates oversold conditions. In the past, such signals have triggered a bullish reversal. But SUI’s current setup suggests otherwise. The token’s decline from its all high has formed a descending channel for the 24H chart, hinting at potential losses. The bearish price action is also corroborated by the Bull Bear Power (BBP) indicator has ventured into the negative territory. This shows that the sellers are fully in control. If this trend persists, SUI could also breach critical support levels and slide below $1. Analysts predict that if it continues, we might even see the SUI price collapse to $0.45.

Rebound to $2.34 Possible

On the other side, a significant increase in liquidity in the crypto market could relieve this bearish pressure. In such a scenario, SUI’s price might rebound to $2.34 or higher. If that happens, the prominent altcoin might surge to $3.49 as predicted by the Fibonacci Retracement indicator. Given this situation, let’s take a quick look at the coin’s latest price performance and form an SUI price prediction for today. 

SUI Price Analysis: 40% Drop Observed, Buying Pressures Fail to Push SUI

SUI commenced trading yesterday at $2.226, going on a slow downtrend as the buying pressure fell. The bears took control of the market, with slight death crosses forming around midnight, as the SUI price fell to $2.175 by 09:35 in the morning. The price seemed to be stabilizing for a while, with a golden cross forming. But the buying pressure was not enough to support a reversal. The decline continued as selling pressure began to build up. By 14:00 UTC, the coin had fallen to $2.088, finding some support there. However, any upward movements from there were quickly restricted, and SUI underwent a massive decline.

Chart 1: published on TradingView, April 7, 2025

This drop led SUI to find support at $1.89 by 21:00 UTC. As a golden cross formed, a price reversal was expected, but it could only support a consolidation phase. A narrow trading range formed, with $1.938 as the resistance. SUI alternated between resistance and support. At 00:55 on April 7, a golden cross appeared, and a resistance break was expected. SUI did break the resistance, but a death cross formed right after as SUI dipped, first to $1.824, and then to $1.72 after a brief trading range. As of press time, the SUI price was seen climbing to test the resistance.

SUI Price Prediction: Can SUI Return to $2 Levels?

SUI has fallen by over 40% in the past 24 hours, much like other altcoins out there. The Black Monday seems to be still doing its magic, with the buying trend failing to take control. For now, SUI is about to test the $1.87 support. But given recent performance and trends, its advance is bound to be rejected. SUI could return to the support level in the latter half of the day. If buying pressure remains inadequate, we are looking at a further price drop to $1.6-$1.7.  

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