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SUI Faces Bearish Pressure as Price Drops Below $3 Amid Market Weakness
SUI Faces Bearish Pressure as Price Drops Below $3 Amid Market Weakness
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[TRADE_PLUGIN]SUIUSDT,SUIUSDT[/TRADE_PLUGIN]
SUI News -
SUI's price has fallen below $3, marking a 21% weekly decline as bearish sentiment takes hold in the market. Open Interest has dropped 45% from its all-time high to $1.15 billion, indicating reduced trader confidence. Accelerated long position liquidations further highlight waning Optimism for this altcoin.
Technical analysis shows a descending channel pattern forming, with volume spikes confirming strong selling pressure. The token currently trades at $2.10, down 10% intraday, with $1.08 billion in volume, clearly trapped in a downtrend. Market structure suggests continued weakness unless buyer interest returns.
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