$SUI update
is it going to fall?
head and shoulders pattern đ€
The chart shows a potential head and shoulders pattern forming, which often suggests a bearish reversal. Here's how we can estimate the potential drop:đ
Measure the distance from the top of the "head" to the neckline:đ
In this case, the head seems to peak at around 2.1679 and the neckline might be around 1.9072.
The difference is roughly 2.1679 - 1.9072 = 0.2607.
Project the fall from the neckline:đ«Ž
If this pattern plays out, the price could drop by the same amount below the neckline, potentially falling to around 1.9072 - 0.2607 = 1.6465.đ€
This is just a technical estimate, and patterns don't always play out as expected. Factors such as volume, market sentiment, and external conditions could alter the outcome.
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