Autor: dot-traders

• SUI has broken below a key support as bearish sentiment intensifies.
• Derivatives data shows declining interest and rising short positions.
• Network activity has dropped sharply, signalling weak fundamental support.

The price of Sui (SUI) has come under intense pressure in recent days, stirring concerns among traders and investors about the possibility of a deeper correction in the near term.

After what appeared to be a promising rally above the $4 mark, SUI has since reversed its gains and now flirts with a crucial support zone that could decide the token’s next major move.

Notably, SUI opened the week on a bearish note, and it has continued to drop, shedding over 5% in the last 24 hours to trade around $2.75. This marks a significant pullback from its recent high of $3.51.

Although the token still maintains an impressive 255% gain over the past year, its short-term momentum has notably weakened.

SUI price analysis signals caution

SUI recently broke down from a triangle pattern, triggering a wave of selling that has pulled the token back to a familiar support level at $2.78, which acted as a floor in late March.

A failure to hold this zone on a daily close could trigger a steep drop toward the $2.24 level, which aligns with the 23.6% Fibonacci retracement level from the all-time high of $5.35 and the year-to-date low of $1.71.

Adding to the concern, momentum indicators are flashing mixed but generally negative signals.

While the Relative Strength Index (RSI) is nearing oversold levels at 33.64, it has also formed a bullish divergence that some traders believe could signal a reversal.

However, the Moving Average Convergence Divergence (MACD) remains in bearish territory, showing no clear sign of upward momentum just yet.

SUI derivatives market shows a bearish market sentiment

Data from Coinglass highlights a significant drop in Open Interest (OI) for SUI, which currently stands at $1.15 billion — the lowest in nearly two months.

This marks a 43% decline from its peak of $2.05 billion recorded in May, indicating a clear outflow of capital from the derivatives market.

The declining OI is accompanied by a falling OI-weighted funding rate, currently at 0.0060%, further suggesting reduced bullish enthusiasm.

Additionally, the taker buy/sell volume reveals that short positions now dominate, accounting for 55% of volume, compared to 45% for longs.

These figures point to a decisive shift in trader sentiment, with the long/short ratio at 0.8195 indicating a prevailing bearish bias.

Unless sentiment improves, the pressure on spot prices is likely to persist.

Head-and-shoulders pattern points to a $2.20 target

Technical analysts have noted the emergence of a head-and-shoulders pattern on SUI’s daily chart, adding weight to the bearish narrative.

According to market analyst NebraskanGooner, this classic reversal setup could push SUI down to the $2.20 region by early July.

The breakdown from the right shoulder coincided with a rejection at the 99-day simple moving average, highlighting a failure to maintain key technical levels.

$SUI (per request)

Rejected key resistance and now back below 99smma

Also looks like a head and shoulders breakdown which yields a measured target in the $2.20’s area. https://t.co/URt8sTIvo5 pic.twitter.com/vIC72brZ7O

— Nebraskangooner (@Nebraskangooner) June 17, 2025

The $3.00–$3.10 region, which previously served as support, now acts as a significant resistance barrier.

If bulls fail to reclaim this area in the coming sessions, the bearish pattern may continue to play out, putting further pressure on price action in the short term.

Fading network activity fuels more doubt

On-chain metrics also paint a bleak picture for SUI’s near-term prospects.

Daily transaction volumes on the network have plummeted from over 19 million to just 9 million, while daily active accounts have dropped from 1.66 million to around 320,000 according to data from SuiVision.

This sharp decline in network activity reflects waning interest and suggests that the earlier rally may have been driven more by speculation than sustained demand.

The loss of momentum in both price and usage underscores the difficulty SUI may face in mounting a swift recovery.

Despite a slight rebound in futures market exposure, with open interest still hovering around $1.2 billion, the broader outlook remains cautious.

Market participants appear to be waiting for clearer signals before committing to new positions.

What to look out for going forward

All eyes are now on the $2.78 support level. A successful bounce from this area could open the door for a move back to the psychological $3 level and possibly toward the monthly high of $3.55.

However, a breakdown followed by a failed retest could pave the way for a drop to $2.20 or even lower.

Looking further ahead, analysts like CoinLore forecast a potential price range of $3.77 to $5.80 by the end of 2025.

However, while this suggests room for long-term growth, the near-term path remains clouded by technical weakness and shrinking on-chain activity.

For now, until bulls reclaim key resistance levels and network fundamentals stabilise, SUI’s short-term outlook will likely remain fragile.

Traders should closely monitor both technical support zones and broader market sentiment before making high-conviction moves.

The post SUI price prediction amid fears of an extended correction appeared first on CoinJournal.

• PEPE continues to trend downwards with a 21% price drop this week.
• Key support at POC could decide short-term direction.
• Geopolitical tensions between Israel and Iran are driving risk-off sentiment in memecoins.

Pepe (PEPE), the wildly popular Ethereum memecoin, has once again found itself at the centre of market volatility as traders confront a renewed wave of bearish pressure.

Despite its meme status and vibrant community support, the token has entered a critical technical zone following a series of steep daily losses that raise pressing questions about its short-term prospects.

Selling pressure intensifies as technical structure weakens

PEPE has posted a sharp 21% weekly correction, confirming a lower low on the weekly chart and cementing its place in a broader bearish structure that has been developing over several weeks.

After failing to reclaim its value area high, the token faced an aggressive rejection at the key 0.618 Fibonacci retracement level, which triggered a swift sell-off that erased earlier gains and pushed price action further into negative territory.

With each failed attempt to recover key levels, the token has continued to print lower highs and lower lows, a pattern that strongly signals bearish continuation under current conditions.

This sequence of breakdowns reflects not only waning technical momentum but also growing risk aversion among traders, particularly in the high-beta memecoin segment.

All eyes are on the point of control

The market’s next focal point is the point of control (POC), a zone that combines the 0.786 Fibonacci retracement with historically high trading volume and a long-standing monthly support level.

As PEPE approaches this critical level, market watchers are keenly observing whether buyers will step in with enough conviction to halt the decline and engineer a bounce.

If price finds stability at the POC with sufficient volume support, a short-term reversal may emerge, offering the potential for a structural shift in the trend and a retest of prior resistance zones.

However, should this support fail, the door will open to further downside, possibly leading to a full rotation toward the value area low, a level that could mark a deeper correction phase.

The importance of the POC cannot be overstated, as it represents a decisive battleground between bulls and bears in the current cycle.

Geopolitical shocks compound PEPE’s weakness

Beyond technical indicators, recent geopolitical events have dramatically worsened the outlook for speculative assets like PEPE, as traders react sharply to escalating conflict in the Middle East.

The ongoing military escalation between Iran and Israel, including massive missile exchanges and direct assaults on key infrastructure, has shaken global markets and prompted a risk-off shift that has particularly impacted memecoins.

PEPE, along with other notable meme assets like FLOKI and WIF, has led the market losses, with PEPE alone plunging over 4% within 24 hours, according to Coingecko, as investor sentiment deteriorated.

Notably, memecoins are typically the first to suffer in such scenarios due to their highly speculative nature and the absence of strong fundamental backing.

Whale activity further illustrates this vulnerability, with PEPE’s whale netflow collapsing by a staggering 97%, indicating large holders are distributing rather than accumulating.

Even positive developments, such as FLOKI’s 15 billion token burn, failed to buoy sentiment as traders used the news as an opportunity to exit rather than buy.

PEPE price outlook remains cautious

While some market observers believe PEPE’s pullback remains within historical volatility norms, the ongoing risk-off environment and weak technical structure point to continued caution in the near term.

In addition, the broader macroeconomic triggers, such as the upcoming FOMC decision, could play a decisive role in shaping short-term price action across crypto markets, including memecoins.

Until then, the fate of PEPE hinges on whether the point of control can hold firm, allowing price action to stabilise and reverse the current trajectory.

If the POC fails, the memecoin’s bearish trend is likely to deepen, with heightened volatility and further losses remaining a strong possibility.

For traders, the coming days will be pivotal in determining whether PEPE can defy the odds and reclaim lost ground or continue spiralling toward lower support zones.

The post PEPE price prediction: can the memecoin break from the bear trend? appeared first on CoinJournal.