🔻 $SUI - Price Update: 🔴🔴🔴
Let’s keep it straight: the market structure is still bearish. Price remains trapped under the main H4 downtrend and just got a clean bearish rejection.
In my view, we could see another leg down to $2.00 or lower.
Why so bearish? 📉
The Ichimoku weekly structure just flipped, classic early sign of deeper trouble ahead. Is this technical selloff tied to bad news about to drop? Possible!
Having reviewed many #alts recently, this last pump looks more like a bull trap, possibly confirming a high-time-frame bearish breakout! 🔴
Crypto markets barely retested their breakdown zone (+/-20%)meanwhile, stocks were flat (weekend closure). Feels like a big fakeout🔴
📰 Macro matters:
Remember, during the last wave of war headlines, #crypto dumped sharply (-20%) while global stocks stayed calm.
Now, rising oil prices + looming Iran nuclear worries ... could cause risk-off across the board. If Iran exits the NPT (Non-Proliferation Treaty) signed in 1970, expect global market shock, potential new lows for crypto.💣
Key Level for $SUI Bulls:
A weekly close above $2.92 is a must to reverse this gloom.
Watch these levels on my charts! Stay cautious, manage exposure.
🚨 Remember:
Even the strongest projects struggle in the face of widespread fear,liquidity is drained from everywhere, not just weak coins!
$BTC may stay more stable due to ETF flows and ongoing mass adoption.But most altcoins are much less internationally visible, making them far more prone to short-term volatility and wild moves! ⚠️
