The cryptocurrency Sui has bounced back sharply after a severe market crash on October 11, when over $19 billion was wiped from the crypto market in a single day.
Bitcoin fell more than 14%, dropping from around $123,000 to below $105,000, while major altcoins, including Ethereum, Solana, Cardano, XRP, and Dogecoin, also saw heavy losses.
Sui suffered an even steeper decline, falling over 80% from roughly $3.70 to $0.50. Since then, the token has recovered more than 350%, trading near $2.70 at the time of writing.
Price Pattern and Recovery
Despite the sharp drop, Sui’s long-term price structure remains intact. The token has been moving inside an ascending channel since late 2023, forming a steady pattern of higher lows and higher highs. During the October crash, Sui briefly fell below a smaller triangle pattern within this channel, appearing to break down.
However, buyers quickly regained control, pushing the price back inside the triangle. Analysts say this indicates that market participants remain active and bullish.
Key Support and Targets
Sui is currently testing the lower boundary of the triangle. If this support holds, the token could rise toward the upper part of the triangle, representing a potential 35% gain from current levels. A stronger breakout above the triangle could drive Sui to the top of its long-term ascending channel, near $6 — a roughly 70% increase.
If the support fails, Sui may fall toward the lower boundary of the channel, around $1.90, representing a 30% decline. Historical patterns suggest that Sui usually finds strong support at this level, limiting prolonged losses.
Outlook
Market observers say the chart shows a cautious rebuilding of confidence. Sui’s strong recovery after the crash suggests that the long-term uptrend remains in control. The triangle pattern now acts as a critical zone: a rebound could signal another bullish leg, while a breakdown could trigger a retest of long-term support.
