Summary
- Sui (SUI) is currently testing the key support level of $3.6.
- It was stated that if this support level is breached, there is a possibility of a decline to $3.5233.
- However, if the $3.6 support level holds, a rebound to $3.8 is possible.
An analysis suggests that Sui (SUI) may decline further if it falls below the $3.6 support level.
On the 25th (local time), Crypto Man Mab, a cryptocurrency analyst, stated on X (formerly Twitter), "Sui is currently testing the key support level around $3.6 to $3.65," and added, "If it falls below the support level, it could drop to $3.5233."
He mentioned that the current momentum for Sui is predominantly bearish. The analyst noted, "The fact that Sui recently plummeted after reaching $4.2 and fell below the $3.8 support level is evidence of the current strong downtrend," and added, "The approximately 5% decline shown over the past 7 days could further amplify short-term bearish sentiment." However, he also mentioned that if the $3.6 support level holds strongly, a rebound to $3.8 is possible.
As of 9:59 PM, Sui is trading at $3.5378 on the Binance USDT market, down 3.48% from 24 hours ago.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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