Ethereum (ETH) has fallen by over 12% in the past week amid growing global pressure, while Sui (SUI) shows signs of potential growth due to a specific pattern.
Current Market Situation
The cryptocurrency market is under pressure. Ethereum, one of the leading cryptocurrencies, has lost more than 12% in the past week amid escalating global trade tensions. Donald Trump is set to impose reciprocal tariffs on all countries on April 2.
Breakout Pattern for Sui
On the daily chart, Sui (SUI) recently broke above a falling wedge pattern at the $2.38 level, reaching a local high of $2.83. However, ongoing bearish pressure has pushed the price down to $2.28. This pattern is similar to August 2024 when Sui also experienced growth after a breakout. If the breakout is supported by the 50-day moving average (MA), another rally is possible.
Final Thoughts
While the cryptocurrency market is under pressure, Sui's price action shows potential strength. If Sui can maintain support above the breakout trendline and cross the key 50-Day MA, a strong rally could occur. However, traders should watch for global macroeconomic events and Bitcoin's movements, as both factors can influence Sui's price trajectory.
Investors should pay attention to Sui's dynamics and market developments. The movement pattern might repeat, opening up new investment opportunities. However, don't forget to consider external factors that could affect the market.
