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SUI In Bear Territory: RSI Drop Suggests Further Downside Risk

As SUI dips further into bearish territory, technical indicators are increasingly signaling a challenging path ahead. A key measure, the Relative Strength Index (RSI), has turned negative, suggesting that selling pressure is mounting and that more downside may be on the horizon. With SUI navigating this bearish shift, market participants are keeping a close eye on potential support levels, wondering if the asset can stabilize or if sellers will continue to drive prices lower.

This analysis explores SUI’s recent entry into bearish territory, examining the implications of the RSI’s downward shift and the potential for more price declines. It also seeks to provide insights into the downside risks facing SUI by assessing key technical indicators and support levels, this piece.

An analysis of the 4-hour Relative Strength Index (RSI) reveals that the indicator has now dropped to a low 23% level after a previous recovery attempt failed to hold at 52%. With the RSI now in the oversold zone, selling activity may be overextended, unless a significant influx of buying interest appears, SUI could remain under pressure, potentially leading to additional drops.$SUI