SUI Faces Bearish Pressure as Key Indicators Signal Downward Trend
SUI's price has fallen below $3.5, breaking its ascending trendline and indicating a potential shift from bullish to bearish momentum. On-chain data and derivatives metrics support this outlook, with Spot Taker CVD trending downward and short positions reaching a one-month peak.
The long-to-short ratio stands at 0.63—the lowest in over 30 days—reflecting increased bearish sentiment among traders. Technical indicators further suggest weakening momentum, pointing to a likely short-term correction for SUI.