While this coin has the potential to surprise—thanks to strong backing from major VCs and quality market makers—it appears too overheated to sustain further growth without a correction.
In fact, the correction has already begun, as indicated by the bearish MACD EMA crossover.
- The RSI also shows a significant bearish divergence, reinforcing the likelihood of a pullback.
Adding to this, many investors were drawn in by SUI's massive pump but may now begin to lose confidence. If SUI dips below the key support level, we could see a cascade of selling pressure:
- Leverage positions liquidated.
- Stop-loss orders triggered.
Based on these signals, I anticipate a serious correction that could drive the price down to $2.
Key levels to watch:
- If SUI drops below $3.20, there’s little support until $2.35.
- Exercise caution and monitor these levels closely.
As always, DYOR (Do Your Own Research). 🚨