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SUI Cryptocurrency: Analysis of Support and Reversal Prospects

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by Giorgi Kostiuk

3 hours ago

The SUI cryptocurrency has experienced a significant drop, losing over 50% of its value. However, analysts believe SUI has chances for recovery.

Significant Price Decline of SUI

The price of SUI cryptocurrency has fallen more than 50% from its recent peak. This decline comes amid a broader trend of downturn in the cryptocurrency market.

Analyst's View on SUI's Prospects

A well-known crypto analyst expressed the view that SUI remains an asset with the potential to continue performing well. He noted that SUI is in an interesting support zone, which may facilitate growth.

$SUI is one of those assets that's likely going to continue doing well. It's down more than 50% from the recent high and in an interesting support zone.Michaël van de Poppe

Potential Support Zone for SUI

Analyzing SUI's three-day chart, the analyst indicated that the cryptocurrency is nearing historical support. This support is formed by a price cluster around its 2024 high.

Despite the sharp drop, SUI may find support and recover due to the interesting support zone mentioned by the analyst.

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