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SUI Faces Bearish Pressure as Price Dips Below Key Support Levels
SUI Faces Bearish Pressure as Price Dips Below Key Support Levels
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[TRADE_PLUGIN]SUIUSDT,SUIUSDT[/TRADE_PLUGIN]
SUI News -
Sui (SUI) has experienced a sharp pullback from recent highs, falling below critical support levels amid increasing bearish momentum. The token is currently trading around $2.75, marking a 5% decline over the past 24 hours, despite maintaining an impressive 255% annual gain.
Technical indicators suggest caution. A breakdown from a triangle pattern has driven sui toward its March support level at $2.78. If this level fails to hold, further declines could extend to $2.24, aligning with Fibonacci retracement levels from its all-time high.
While the RSI approaches oversold territory at 33.6, a developing bullish divergence indicates potential for a reversal. However, market sentiment remains risk-averse for the time being.
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