CandleFocus SUI’s Bid to Stabilize Above $2 Hits a Wall as Bulls Retreat
2024-11-01
Author: Content Editor
The native token of the Sui blockchain, SUI, is experiencing increased selling pressure, leading to a decline in price to $1.92, a 5% drop in the past 24 hours. The downward trend of SUI's Relative Strength Index (RSI) indicates a decrease in demand for the altcoin, with the RSI value moving towards 50, suggesting a more bearish outlook. The coin's Balance of Power (BoP) indicator also supports this bearish sentiment, showing that sellers are in control. SUI is currently trading just above its 20-day exponential moving average (EMA), which serves as a critical support level. If this support cannot be maintained, the price may drop further, but if it holds, SUI could aim to reclaim its all-time high of $2.36.
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