SUI Price Drops as Potential Death Cross Signals More Losses
SUI price has declined more than 3.5% in the last 24 hours, bringing its market cap to $13.4 billion, currently ranking it as the 14th largest crypto. Recent technical indicators paint a bearish picture, with the Chaikin Money Flow (CMF) turning negative and the Average Directional Index (ADX) signaling growing momentum within the ongoing downtrend.
Additionally, a death cross in SUI’s EMA lines shows the persistent downward pressure. Key support and resistance levels will play a pivotal role in determining whether SUI continues its descent or manages to reverse the current trend.
SUI CMF Dropped Heavily
SUI CMF (Chaikin Money Flow) has dropped to -0.15, down significantly from 0.10 just three days ago, indicating a notable shift in market sentiment. The CMF turning negative for two consecutive days suggests that selling pressure outweighs buying pressure, as more capital is flowing out of SUI.
This decline in CMF aligns with a bearish outlook, signaling reduced investor confidence and the possibility of continued price weakness.
SUI Downtrend Is Getting Stronger
SUI ADX has risen to 19.7 from 12.9 over the past three days, signaling a strengthening trend. While an ADX below 20 still indicates a weak trend, the upward movement suggests that momentum is building, even though the current trend is bearish.
This increase highlights the possibility that the ongoing downtrend could become more defined if selling pressure continues to dominate.
The ADX, or Average Directional Index, measures the strength of a trend without indicating its direction. Values below 20 signify a weak trend, and values above 25 indicate a strong, established trend. For SUI, the rise in ADX to 19.7 reflects growing directional momentum within the current downtrend.
If the ADX crosses above 25, it would confirm the downtrend’s strength, potentially leading to further price declines unless buying pressure emerges to reverse the trend.