CandleFocus SUI Bull Run at Risk: Indicator Signals Likely 20% Crash to $1.50
2024-10-03
Author: Content Editor
Despite being in a bear market, the altcoin SUI has shown resilience and continued to trend upwards. It has sustained a growth of 11.34% in the past week and is currently trading at $1.8842. However, there are concerns about a correction due to the massive supply overhead at $2 and the risky market conditions. The possibility of a bearish reversal is indicated by the formation of a rising channel pattern and a bearish divergence in the RSI indicator. Analyst Martinez Ali has even tweeted a sell signal for SUI, suggesting a potential pullback. If a bearish breakdown occurs, SUI's recovery rally could be halted and it may test support levels at $1.73, $1.57, and $1.36. Alternatively, if the bullish trend continues, resistance levels can be expected at $2 and $2.16.
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