Despite several recovery attempts, SUI cryptocurrency remains under pressure. The Fear and Greed Index reflects high market fear, standing at 35.
Current Market Situation
SUI has experienced a sharp price drop, reaching $2.92. Over the past 24 hours, market liquidation amounted to approximately $5.35 million. Over the last week, the price has dropped more than 27.81%, threatening to fall towards the $2.65 level.
Potential Developments
SUI's trading activity shows bearish momentum. If the trend continues, prices might fall to $2.77 or below. Despite this, analysts foresee a potential recovery if another rebound attempt leads to gains up to $3.46.
Technical Analysis and Indicators
Indicators like MACD and CMF confirm the market's bearish domination. The RSI indicator at 31.67 points towards nearing oversold territory. The daily trading volume has increased by over 9.52%.
Despite current challenges, analysts remain hopeful for a potential recovery. However, the market will continue to face pressure until certain critical support levels are reached.
