Crypto price prediction: Sui shows recent recover but still remains bearish threat

 SUI crypto price prediction:

SUI crypto analysis

Sui (SUI) has been struggling in the market, with its price falling to around $2.56 on Tuesday. Over the past week, it dropped by nearly 35%, showing signs of weakness. Which give negative signals in both technical patterns and market data, indicating that the downward trend might continue. Investors are closely watching whether Sui can find support or if the selling pressure will push it even lower.

Read also:

The price of Sui broke below an important upward trendline on January 19, which had been supporting its growth since November 26. After briefly trying to recover, it failed to regain momentum and fell sharply by 29% over the weekend. Currently, Sui is struggling to rise again but is facing resistance at the 200-day Exponential Moving Average (EMA) of $3.89. This resistance level is making it difficult for the price to bounce back.

If the downward trend continues, Sui’s price could drop further to test a support level at $2.34. This would mean a potential 40% decline from its current price, making investors cautious. Technical indicators such as the Relative Strength Index (RSI) stand at 51.76, signaling that bearish momentum is on the way to be recovered. Since the RSI is not yet in the oversold zone, there is still room for further decline before a potential reversal.

Read also:

Another important indicator, the Moving Average Convergence Divergence (MACD), is also pointing to a bearish trend recovered but still not over yet. Additionally, if the number of red bars will increase in the MACD histogram might suggests that selling pressure is not over yet. This means that unless something changes, Sui’s price could continue to decline in the near future.

Despite the negative outlook, there is still a chance for a recovery. If Sui can close a daily candlestick above its 200-day EMA at $3.76, the current bearish trend would be invalidated. This could push the price back up to test the next resistance level at $4.45. However, until this happens, the market remains uncertain, and investors should be prepared for further downside risk.