SUI Shakes Off Death Cross as 7-Week Bearish Signal Collapses
Technical traders eye SUI’s charts as the dreaded death cross pattern nears expiration—just in time for bulls to charge back in.
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SUI Investors Can Rejoice
The 50-day exponential moving average is on the verge of overtaking the 200-day EMA. This near-crossover suggests SUI could soon witness a golden cross — a strong technical signal indicating a shift in long-term momentum.
Should the crossover complete, it would mark the end of SUI’s death cross that began seven weeks ago.
Such a shift would likely encourage renewed buying pressure. A golden cross often precedes significant rallies, and with SUI’s price having gained nearly 70% prior to the recent drop, bullish sentiment appears far from fading.’
SUI’s relative strength index (RSI) recently breached the overbought threshold, triggering a cooldown as traders took profits. This RSI dip corresponded with the 10% price drop, signaling that the asset was temporarily overheated and needed to stabilize.
Despite the retreat, the RSI remains within bullish territory, hovering just below the overbought zone. This means that while the rally has paused, the overall trend remains intact, and further gains may be on the horizon if buying volume increases again.
SUI Price Aims At Bouncing Back
At press time, SUI is trading at $3.16, having slipped below a key support level during the last 24 hours. The 10.77% decline stems from the altcoin’s failure to breach the $3.59 resistance level, compounded by a general market cooldown. Still, the correction is viewed by many traders as temporary.
The broader indicators continue to reflect bullish conditions. The nearing golden cross, resilient RSI, and strong upward momentum all hint that SUI could soon reclaim $3.16 as support. If momentum returns, the asset might retest $3.59 and potentially break past it, resuming its prior recovery path.
However, delays in recovery could change the script. Should SUI fail to reclaim $3.16 soon, the altcoin risks slipping further. A failure to breach $3.39 or secure support at $3.18 could send the price tumbling toward $2.77, potentially invalidating the bullish thesis and signaling a trend reversal.
