SUI’s 35% Crash Incoming? Bearish Pressure Mounts
In this loser market emotional SUI, the local tokens of the SUI blockchain appear to decline, and it is likely to fall at a dual -digit price because it has formed a price action mode for loser within its daily time. This kind of prospect of SUI has changed because it has failed the key support on the trend line that has been witnessed for a long time.
SUI technology analysis and upcoming level
According to the technical analysis of experts, with today’s price decline, SUI has successfully confirmed the collapse of its losses, and transferred the entire emotion to the drop.
According to the recent price actions and historical momentum, if SUI puts its own price below $ 4, it is likely to drop by 35 % to reach the level of US $ 2.30 in the future. From a positive point of view, the relative strength index (RSI) of the SUI is 35.5, indicating that the asset has sufficient space to be used for further price declines.
The current transaction price of SUI is close to $ 3.66, and the price has fallen by more than 8.50 % in the past 24 hours. During the same period, its transaction volume fell by 55 %, indicating that traders have low participation.
$ 18.5 Sui flowing out
Apart from, exist The price action of the loser and the strong loser market sentiment. Long -term holders seem to be accumulating tokens, indicating that potential purchase opportunities are as revealed by the chain analysis company. Small shopEssence Data from spot inflow/outflow show that exchanges have witnessed a large amount of SUI token worth more than $ 18.5.
A large amount of outflow in communication indicates potential accumulation, which may cause purchase pressure and further prices soaring, which seems to be difficult to experience due to the loser emotions.
As of now, the lower main liquidation level is close to $ 3.56 and the upper side is 3.85 US dollars. Traders are over -leverage at these levels, such as reports of CoingLass.
