[Analysis] "Sui, Ton, EOS Reach Technical Turning Point... At a Crossroads Between Further Decline vs Rebound"
Summary
- Major altcoins such as Sui (SUI), Ton (TON), and EOS (EOS) are approaching technical support and resistance levels, which could lead to increased short-term volatility.
- SUI and TON are fluctuating around the support levels of $2.08 and $3.702, respectively, with potential for decline, while EOS is moving sideways in the $0.8295~$0.8505 range.
- Investors should closely monitor the movements of these coins at key support and resistance levels to analyze whether they make a decisive breakthrough or retreat.
Major altcoins such as Sui (SUI), Ton (TON), and EOS (EOS) are approaching technical support and resistance levels, which could lead to increased short-term volatility, according to an analysis.
On the 4th, the cryptocurrency-focused media outlet Ecoinomist stated, "From a technical perspective, altcoins like Sui (SUI), Ton (TON), and EOS (EOS) are at a critical juncture," adding, "Some indicators suggest a potential rebound, but the overall market trend is showing mixed signals, which could intensify volatility for the time being."
Steven Balgenbach, founder of Interchange, analyzed, "SUI is continuing its short-term bearish trend, but the downward pressure is easing," adding, "It is fluctuating around the support level near $2.08." He continued, "TON's upward momentum has clearly slowed after a recent surge. If the $3.702 support level breaks, it could fall further to $2.52."
EOS also appears to have entered a stagnation phase after a short-term rise. It is currently moving sideways in the $0.8295~$0.8505 range.
The media added, "At a time when momentum is slowing, movements at key support and resistance levels can determine future trends," advising investors to closely monitor whether these coins make a decisive breakthrough or retreat.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
