CandleFocus

SUI In Bear Territory: RSI Drop Suggests Further Downside Risk

Author: Content Editor
The SUI cryptocurrency is currently in a bearish trend, with technical indicators suggesting more downside potential. The Relative Strength Index (RSI) has turned negative, indicating selling pressure and a possible further decline in price. The 100-day Simple Moving Average (SMA) is now acting as resistance, signaling a shift in sentiment. The RSI is in the oversold zone, suggesting selling activity may be overextended unless there is significant buying interest. The $1.4 level and the 100-day SMA are crucial support areas, and a break below these points could lead to further declines. The daily RSI has fallen below the critical threshold of 50%, showing strong bearish momentum. Traders should focus on potential price targets, with $1.4 and $1.23 as support levels and $2.1 as a resistance level. Whether the cryptocurrency can hold above $1.4 will determine if there is a potential reversal and a higher price movement.

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