The Dego Finance token crashed by over 40% on Wednesday, wiping out all gains from the past few months and reviving memories of the recent Mantra collapse. Dego Finance (DEGO) plunged more than 40% on Wednesday, wiping out all gains…

Next Mantra? DEGO token price plunges despite USD1 purchases

SUI, one of the leading altcoins of this cycle, has recorded an impressive 
price recovery over the past two months. However, as the cryptocurrency fails 
to hold some key levels, some analysts warn of a potential drop below the 
$3.00 support. Related Reading: Ethereum Eyes 15% Move Amid Key Resistance 
Retest – Breakout Or Rejection Next? SUI Rally Risks Massive Price Drop Since 
hitting its four-month high of $4.29, SUI’s price has been moving sideways, 
hovering between $3.40-$4.00 throughout most of May. Amid last week’s market 
retrace, the altcoin recorded a 14.2% price drop, losing its range and hitting 
the $3.00 support over the weekend. At the start of this week, SUI saw a mild 
recovery alongside the rest of the market, surging to the $3.20 area. 
Nonetheless, the cryptocurrency has failed to hold this level over the past 24 
hours and dropped to the $3.10-$3.15 area on Thursday morning. Crypto analyst 
Carl Runefelt warned that the cryptocurrency’s rally could be in danger as it 
risks breaking down of a descending triangle pattern. Per the post, the 
altcoin has been trading within this formation for the past month, also 
displaying a potential Head &amp; Shoulders setup forming inside of the triangle, 
and the pattern’s baseline sitting around the $3.10 support. To the analyst, 
“if it breaks out of this triangle to the downside, then the fall can be very 
hard,” forecasting a nearly 35% retrace toward the $2.00 mark. On the 
contrary, a breakout to the upside could propel SUI’s price toward the $4.20 
resistance. Analyst Crypto Bullet recently highlighted a “humongous” rising 
wedge pattern in the cryptocurrency’s chart, which eyes the $8-$10 area as the 
next major target. According to the chart, SUI has been moving within this 
pattern since early 2024, hovering between the upper and lower boundaries for 
over a year. Notably, the cryptocurrency hit the support trendline one more 
time during the April low, bouncing from this level. Based on this, the 
analyst considers that the current dip could be “the last opportunity to add 
to your bags before SUI makes a new ATH.” Can It Repeat Its Late 2024 
Playbook? Analyst Rekt Capital noted that SUI was positioned for a bullish 
Monthly Candle Close in May, aiming to replicate its late 2024 performance. 
Last year, the cryptocurrency retested the $3.39 level and turned it into 
support, which acted as a springboard toward its January 2025 all-time high 
(ATH) of $5.35. This time, May closed below this crucial level, failing to 
confirm it as support and losing the recent price range. SUI is now 
“showcasing very early signs of upside wicking into said level to turn it into 
new resistance.” The analyst warned that June could see the cryptocurrency 
reject from this level “if things don&#8217;t change over the course of this month.” 
SUI is currently located inside the $2.33-$3.39 price range and is trying to 
position itself for a reclaim of the Range High to facilitate a breakout. 
However, it has unsuccessfully attempted to surge to that level, which could 
send the price toward lower levels if it “continues to float here without 
covering additional ground.” Related Reading: Bitcoin To Face ‘One Last Speed 
Bump’ Before Rally To $140,000 – Analyst Therefore, SUI risks dropping 10% 
toward the $2.81 mid-range area, which acted as support and weak resistance 
earlier this year, and falling 30% to the $2.33 range low if the previous 
level doesn’t hold. “If SUI fails to show signs of reclaiming $3.39 as support 
(at least on the Daily timeframe via Daily Closes above $3.39), then sub-$3 
regions could be on the cards,” the analyst concluded. As of this writing, SUI 
trades at $3.08, a 2.3% decline in the daily timeframe. Featured Image from 
Unsplash.com, Chart from TradingView.com

SUI Rally At Risk? Analysts Warn Of 30% Dip If This Level Doesn’t Hold

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