As the crypto market faces downward pressure, Sui (SUI) is forming a fractal pattern reminiscent of Solana’s impressive rally in October 2024. Will the critical support at $1.54 mark the beginning of a 23% bullish surge? Technical indicators suggest a surprising turn that may catch bears off guard.
The macro context is weighing heavily on altcoins this week. Bitcoin has shed nearly $5,000 from its peak of $94,150 reached on December 4th, falling back below the psychological $90,000 level to settle around $89,500. Ethereum hasn’t been spared either, with a correction of over 4% in the last 24 hours, dragging down the entire altcoin ecosystem in its wake.
In this bearish climate, Sui is recording a retracement of over 5% for the day. Yet this apparent weakness may be masking a major technical opportunity. The Layer-1 token is now displaying on its 4H chart a structure that bears a strikingly accurate resemblance to the one that propelled Solana 23% higher in just a few days.
Experienced traders know that these fractal patterns, when they repeat with such similarity, deserve particular attention. The current confluence zone between the neckline and the 50 MA represents a critical support level that could determine SUI’s trajectory for the coming weeks.
Technical analysis reveals striking similarities between SUI and the setup formed by Solana (SOL) last October. At the time, SOL had validated a double bottom, broken through its neckline, and then executed a perfect retest aligned with the 50 MA, offering an ideal entry point. Today, SUI is replicating this pattern almost identically. The token has confirmed its double bottom breakout and is retesting the neckline at $1.54–$1.56, a zone that coincides with the 50 MA ($1.5432), creating a favorable technical confluence for a potential rebound.
The current consolidation at the support level allows for absorbing selling pressure and building a solid foundation for a potential bullish continuation. If the fractal pattern repeats as it did with Solana, SUI could initiate an extension toward $1.90, representing notable profit potential. This confluence zone thus constitutes the decisive battleground, whose defense remains essential to validate the bullish scenario.
However, fractals are anticipation tools, not certainties. A breakdown of support would invalidate the setup and could lead to a correction toward $1.40, then $1.30. The next volume movements will be decisive: A rebound accompanied by buying flow would strengthen the pattern’s validity, while a bearish breakdown with volume would trigger warning signals for long positions.
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