An analysis of the Sui cryptocurrency market reveals a bearish picture due to a head-and-shoulder pattern. This might indicate a trend shift from bullish to bearish, affecting future price movements.
Key Pattern in the Sui Market
Sui's prices are forming a head-and-shoulder pattern. The support at $2.77 is crucial. Breaking this level could lead to further declines to $2.50 or even $2.30.
Sui's Recent Achievements
Despite unfavorable technical factors, the Sui price increased by 6% over the last 24 hours. Market capitalization grew by 5.43%, and trading volume surged by 19.97%.
The Future of Sui Cryptocurrency
The head-and-shoulder formation signals possible decline, but holding the $2.77 support might lead to a short-term rise to $3.20. A return to a bullish trend requires breaking the resistance at $3.20 and $3.50.
Maintaining supports and deep analysis of the Sui market can assist in trend change detection. Breaking key resistance levels is necessary for a bullish return.
