SOL & SUI: Bear Flags & Breakdowns Await! 🐻📉

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The altcoins, in their somnambulant dance, are now under the spell of a corrective impulse. How far down could this reversal take Solana (SOL) and Sui (SUI)? How deep could these corrections go? 🤔💸

Before contemplating the tantalizing prospect of buy zones, one must ponder the specter of a more profound descent. Both $SOL and $SUI, those mischievous little tokens, are analyzed as to whether they could be part of a larger correction. 🕵️‍♂️

$SOL price about to fall out of a bear flag?

The 4-hour canvas of $SOL reveals a price that has been repelled by the channel’s summit, now hastening toward its nadir. A bear flag, perhaps, with a measured drop to $157, a number that the bulls dread like a shadow at noon. 🐻📉

A possible plunge to the bull market trendline for $SOL price

Could this be the start of a major corrective move for $SOL? The upper trendline is likely to be retested again at the very least if the aforementioned bear flag plays out. This would take the price down to the major $200 horizontal support line. 🧠

If this trendline and this horizontal support fail to hold the price, a fall to $188, and then $176, where the lower trendline provides support, are possible targets. A descent into the abyss, perhaps? 🕳️

It must be noted that the major support level at $156 is not beyond the realms of possibility, given that this matches up with the 0.618 Fibonacci level. This would be below the bull market trendline, but a candle wick down to this level is a potential scenario. 📉

Bears still in control of $SUI price

After failing to break out of a descending trendline, the fakeouts in the chart above bear testament to the bears keeping control of the $SUI price. The price has already been down to the major $3 horizontal support level, and if the current $3.21 support level fails, the price is likely to end up back there again. 🐻💸

The Stochastic RSI indicators at the bottom of the chart also suggest that a further drop could be coming soon. A cruel jest, perhaps? 🧨

$SUI price at critical juncture

The weekly chart for the $SUI price illustrates how critical this next week or two can be. While a general downward trend is still in evidence, the price has reached strong support provided by horizontal levels and the bull market trendline. A confirmed breakdown below the trendline and the $3 support level would potentially lead to a drop to $2.35. Strong support here, or at $1.92, could stop the rot. 🛑

At the bottom of the chart, the Stochastic RSI indicators are approaching the bottom, which could lead to a cross back up in the next two or three weeks. A flicker of hope? 🌟

The RSI signals caution. It can be observed that the indicator line is just starting to dip its head below the ascending trendline. If this is the case at the end of this week, look for the price action to also fall below the bull market trendline. A tragicomedy in the making. 🎭

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2025-09-30 13:28