SUI Shows Bearish Signals as Triple Top Pattern Emerges

SUI has recently displayed a classic reversal pattern, forming a distinct triple-top formation on its price chart. This technical setup typically indicates a potential shift from bullish to bearish momentum, as repeated attempts to surpass a resistance level fail. Market participants are now monitoring whether this pattern will lead to a downward correction or if bullish forces can reclaim dominance.

Crypto Sat recently noted in an X post that SUI has formed a clear Triple Top pattern on the 15-minute chart, suggesting a bearish near-term outlook. The three peaks—labeled Top 1, Top 2, and Top 3—appeared NEAR the $3.085 zone, with each subsequent peak showing diminishing momentum. The price has now broken below the $2.995 level, which previously served as neckline support for this pattern.

This breakdown below the neckline signals weakening bullish pressure and raises the possibility of further downside. Traders should keep a close eye on this critical level, as it could dictate the next directional MOVE for SUI's price action.