SUI Price Alert: Technicals Signal Deeper Correction Ahead
SUI faces mounting bearish pressure as key technical indicators flash warning signals—traders brace for potential downside moves.
Technical Breakdown
Multiple resistance levels held firm while moving averages crossed into bearish territory. The RSI hasn't touched oversold levels since the last major correction, suggesting more pain could be incoming.
Market Sentiment Shift
Trading volumes dipped during recent rallies—never a good sign when you're trying to maintain momentum. The 'buy the dip' crowd seems hesitant this time around, maybe because they're still bag-holding from the last 'sure thing' the crypto bros promised would moon.
Outlook: Storm Clouds Gathering
Until SUI reclaims critical support zones, the path of least resistance points south. Sometimes the charts actually matter more than the hopium—even in crypto land.
SUI technicals remain bearish
On the daily chart, SUI has fallen below its 50-day moving average, a technical development typically interpreted as a bearish signal by traders.
Momentum indicators support this bearish outlook. The Moving Average Convergence Divergence has crossed below its signal line, accompanied by expanding red histogram bars. Meanwhile, the Relative Strength Index has dropped to 44, a sign of increasing selling pressure.
Based on the above bearish signals, SUI could most likely drop to $3.27 support level, which marked the monthly low recorded on Aug. 2. A decisive break below this threshold WOULD likely lead to a drop below the psychological $3.00 level.
On the contrary, a potential bullish reversal remains in the cards if the price tests and rebounds from a rising trendline that has provided support on multiple occasions since April. Historically, SUI has bounced from this trendline each time it has been tested, suggesting it remains a key area to watch for a possible rebound.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
