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SUI at Risk of Major Downturn as Token Unlock and Technical Signals Flash Warnings
SUI at Risk of Major Downturn as Token Unlock and Technical Signals Flash Warnings
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[TRADE_PLUGIN]SUIUSDT,SUIUSDT[/TRADE_PLUGIN]
SUI News -
Sui (SUI), previously a top performer among altcoins, is now facing potential significant downside pressure. Despite a 1.8% price increase to $2.83 and a 37% jump in 24-hour trading volume reaching $760 million, technical indicators suggest trouble ahead. An upcoming $123 million token unlock this week could intensify selling pressure, potentially pushing prices below the crucial $2 support level.
The daily chart shows a rare inverse cup and handle pattern—a strong bearish reversal signal that often precedes sharp declines. A drop below the $2.66 support level could trigger a 38% fall to $1.65, setting a new yearly low. Weak momentum indicators and a death cross formation further dampen prospects for traders hoping for a rebound.
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