The cryptocurrency market is currently experiencing a bearish trend as it opens for trading. SUI, one of the altcoins, shows significant declines in its value.
General Market Trends
At present, the cryptocurrency market capitalization has decreased by over 4.43%, reaching $3.24 trillion. The sentiment is neutral, with the Fear and Greed Index at 54. Major assets are in the red zone.
Current SUI Indicators
SUI has lost over 10.83% in the last 24 hours, currently trading around $2.97. Daily trading volume increased by 73% to $1.61 billion. The liquidation volume in the past 24 hours was $13.39 million.
Future Price Prospects for SUI
Technical indicators show a shift to bearish sentiment in the market. The MACD indicates strong negative momentum, while the Chaikin Money Flow indicator shows outflow. A potential price drop may test the support level at $2.89.
The situation in the SUI market remains tense, with further price declines possibly leading to additional negative consequences if the bearish trend continues.
