📉 $SUI Bears Push Price Below Support: 10% Drop Expected

Sui (SUI) may be heading towards a price drop below $2, following its recent all-time high of $2.36 on October 14. This analysis highlights the potential for an extended correction in the altcoin's value.

🔸 Sui Slides Down the Ascending Channel

SUI has been trading within a rising parallel channel, which typically signals bullish momentum if the price stays above the lower support trendline. Currently, this support sits at $2.03, and SUI is approaching this critical level. A drop below it could lead to a significant downturn.

Additionally, the Bull Bear Power (BBP) has turned negative, indicating that bears are gaining control. A negative BBP suggests that selling pressure is dominating, which could further push SUI's price lower.

🔸 Price Prediction: Bearish Bias

The daily chart aligns with this bearish sentiment. The Moving Average Convergence Divergence (MACD) has also fallen into negative territory, which historically signals a lack of bullish momentum. A rebound into positive territory would be a better entry point for buyers.

Current Price: $2.0232

Change: -4.56%

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