CandleFocus SUI Set for 55% Correction as Traders Cash Out
2024-10-16
Author: Content Editor
The native coin of Layer-1 blockchain Sui Network, SUI, reached an all-time high of $2.36 before experiencing a 14% decline in the past two days. The price is currently trading at $2.04. Technical indicators suggest that SUI could continue to fall, with potential support at $1.97 and the Ichimoku Cloud. The MACD line crossing below the signal line and declining open interest also indicate a bearish outlook. If selling pressure increases, SUI's price could drop by 55% to $0.91. However, if new demand enters the market, SUI may reclaim its all-time high and surpass it.
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