Buckle up, Sui (SUI) holders! The price action is flashing red signals, and a potential 10% drop could be on the horizon as bearish momentum takes over. After hitting a new all-time high of $2.36 on October 14, SUI has struggled to hold its ground. What’s next for this Layer-1 blockchain token? Let’s break down the technicals.
📉 SUI Slips in the Ascending Channel
Since last month, SUI has been trading inside a rising parallel channel, a technical pattern that typically suggests bullish momentum. However, the key to this setup is staying above the lower trendline. And right now, things aren't looking too hot.
The lower trendline support sits at $2.03. If SUI slips below this crucial level, brace for a significant downturn.
The Bull Bear Power (BBP) oscillator is flashing warning signs, having turned sharply negative. When BBP goes red, bears are in control—and it looks like SUI is headed down.
⚠️ Bearish Bias Intensifies – Is There Any Way Out?
Unfortunately, the daily chart isn't offering much hope. The Moving Average Convergence Divergence (MACD) has also dropped into negative territory, signaling that momentum has shifted against the bulls. Historically, MACD's return to the positive zone is a good buy signal—but for now, we're in the danger zone.
With both the BBP and MACD pointing downward, SUI is primed for a possible plunge below $2.00, potentially heading toward $1.85 or lower.
The bears are pushing hard, and unless the bulls can stage a rapid comeback, a 10% drop seems likely.
🔮 SUI Price Prediction: Buckle Up for a Bumpy Ride
As the technical indicators paint a bleak picture, it's crucial to keep a close eye on the $2.03 support level. A break below could spark an extended correction, pushing SUI even lower. The market is volatile, so traders should stay alert and have a strategy in place.
Are you ready to weather the storm? Or is it time to play the market wisely and prepare for a better re-entry?
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