Disclaimer: This is not financial or investment advice. You are responsible for any capital-related decisions you make, and only you are accountable for the results.

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Sui ($SUI)

Overview

Sui has been in a retracement phase after breaking down from its daily uptrend, confirming a bearish structure shift since mid-January. The breakdown below $4.50 and $4.20 led to a steady decline, bringing it back to a key demand zone from November 2024.

This area previously acted as an accumulation base before Sui's 230% rally from $1.60 to $5.30 between November and January. Currently, Sui is hovering above this demand zone, making it a critical level to watch for either a potential reversal or deeper correction.

Key levels

• Support Levels
  • $2.34 - A recent reclaim level acting as immediate support
  • $1.86 (Midpoint of Weekly Demand Zone) - Unmitigated liquidity area, potential downside target
  • $1.60 - $2.10 (Weekly Demand Zone) - Major demand area that previously triggered a strong bullish move
• Resistance Levels
  • $2.86 - Immediate resistance level Sui needs to reclaim
  • $3.19 - Next resistance level before a broader trend shift can occur

Potential scenarios

• Bullish Case - If Sui holds above $2.34 and consolidates, it could attempt a move toward $2.86 and $3.19 as the market stabilizes.
• Bearish Case - If $2.34 fails as support, a deeper correction could see Sui testing the demand zone and potentially $1.86.

Cryptonary's take

Sui's structure remains weakened, but it has now entered a historically strong demand area. If it holds, this could act as a re-accumulation phase before another potential upside move.

However, a failure to reclaim $2.86 and $3.19 would indicate further downside, making the weekly demand zone the last line of defence for a long-term bullish structure.

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Jupiter ($JUP)

Overview

Jupiter has retraced back to its March 2024 origin levels, marking its first revisit to this accumulation zone since the 300% rally to $1.847 earlier last year. This move brings Jupiter into a key demand area, which ranges from $0.471 to $0.629.

Historically, Jupiter never retested these levels after its explosive breakout, making this a crucial test for the asset's next directional move. The asset recently broke below $0.6843, a level that had acted as strong support throughout 2024.

Reclaiming this level is critical for a technical shift in momentum. Until then, Jupiter remains in an accumulation phase, with the potential for further downside if buyers do not step in at these historical levels.

Key levels

• Support Levels
  • $0.471 - $0.629 - Accumulation range, first major demand area
  • $0.4281 - Deeper support below the accumulation range
• Resistance Levels
  • $0.6843 - Key resistance and previous strong support; reclaiming this is crucial for a bullish shift

Potential scenarios

• Bullish Case - If Jupiter establishes a base within the accumulation range and reclaims $0.6843, it could signal a potential bottom formation, allowing for a move back toward higher levels.
• Bearish Case - If Jupiter fails to hold the accumulation range and breaks below $0.471, it could see further downside, potentially testing $0.4281 as the next support.

Cryptonary's take

Jupiter is in a critical phase, returning to an area of previous strength that fueled a major rally earlier this year. Whether this becomes a new accumulation zone or a breakdown point will depend on the strength of buyers stepping in here.

The most important factor is reclaiming $0.6843-without this, Jupiter remains in a weak position and at risk of further decline.