1. SUI Struggling Below Recent Peak
SUI reached a high of $2.36 on October 14 but is now facing downward pressure.
The current price is approaching critical support at $2.03, and a potential dip below this level could trigger a further decline.
2. Testing Key Support at $2.03
SUI has been trading within a rising parallel channel, typically a bullish pattern.
Key Risk: If the support at $2.03 breaks, SUI could see a sharp 10% drop, possibly sliding to $1.85 or lower.
3. Bearish Signals in Indicators
BBP Oscillator: Has flipped into bearish territory, confirming that bears are currently dominating the market.
MACD Indicator: In negative territory, signaling that momentum has shifted away from the bulls, increasing the likelihood of further downside.
4. SUI Price Prediction: Potential Downside
If the $2.03 support fails, expect a move towards $1.85 or lower, with extended corrections possible.
The market is volatile, so traders should stay alert and ready with a strategy.
5. Decision Time for Traders
What’s Your Move?
Ride out the potential drop or wait for a better re-entry after the correction? Staying informed and reacting quickly to market changes is key.
#Therapydogcoin #UptoberBTC70K? #APESurge #ScrollOnBinance #XRPDonationsUSElections
