$SUI

📉 SUI Price Threatens More Downside

SUI has fallen from its recent high at around $4 and is currently trading at about $3.48. 📊The token lost approximately 16% this month and more than 30% since its yearly high. ⚠️ On the charts, SUI broke below significant support levels such as $3.65 and the 61.8% Fibonacci mark at $3.62, indicating that the buyers are losing strength. 🔻

What This Means Going Forward

Technical indicators are also bearish 📉. The RSI is close to 45 (lower than the neutral 50), and the MACD indicates a bearish crossover, both indicating selling pressure. 🔎 Meanwhile, open interest dropped from $2.6B → $1.8B, and the long/short ratio is less than 1, indicating more traders are speculating on the price falling. 💰

➡️⬇️ Future Outlook

In the future, if SUI goes below $3.33, it may slide towards $2.90 support. 🚨To recover, SUI must retake $3.65 and then target the $4+ area. 🚀Until then, the chart is bearish, and the likelihood of further correction is high. ⚖️