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SUI Price Remains Optimistic As 7-Week-Long Death Cross Nears End

2 mins
Updated by Mohammad Shahid
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In Brief

  • SUI drops 10.77% in 3 days after a 70% rally, sparking questions about a potential trend reversal or healthy cooldown.
  • A nearing golden cross suggests bullish momentum may resume, ending a 7-week-long death cross phase.
  • RSI remains near overbought territory, hinting at recovery potential if buying volume increases again.
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After soaring nearly 70% in recent weeks, SUI has faced a swift correction, shedding 10% of its value over the past three days. Despite strong bullish momentum pushing the altcoin into the spotlight, the sudden pullback hasn’t rattled investors. 

The broader outlook for SUI remains intact, with on-chain metrics and market indicators signaling that this drop may be nothing more than a cooldown.

SUI Investors Can Rejoice

The 50-day exponential moving average is on the verge of overtaking the 200-day EMA. This near-crossover suggests SUI could soon witness a golden cross — a strong technical signal indicating a shift in long-term momentum.

Should the crossover complete, it would mark the end of SUI’s death cross that began seven weeks ago.

Such a shift would likely encourage renewed buying pressure. A golden cross often precedes significant rallies, and with SUI’s price having gained nearly 70% prior to the recent drop, bullish sentiment appears far from fading.’

SUI EMAs
SUI EMAs. Source: TradingView

SUI’s relative strength index (RSI) recently breached the overbought threshold, triggering a cooldown as traders took profits. This RSI dip corresponded with the 10% price drop, signaling that the asset was temporarily overheated and needed to stabilize.

Despite the retreat, the RSI remains within bullish territory, hovering just below the overbought zone. This means that while the rally has paused, the overall trend remains intact, and further gains may be on the horizon if buying volume increases again.

SUI RSI
SUI RSI. Source: TradingView

SUI Price Aims At Bouncing Back

At press time, SUI is trading at $3.16, having slipped below a key support level during the last 24 hours. The 10.77% decline stems from the altcoin’s failure to breach the $3.59 resistance level, compounded by a general market cooldown. Still, the correction is viewed by many traders as temporary.

The broader indicators continue to reflect bullish conditions. The nearing golden cross, resilient RSI, and strong upward momentum all hint that SUI could soon reclaim $3.16 as support. If momentum returns, the asset might retest $3.59 and potentially break past it, resuming its prior recovery path.

https://www.tradingview.com/
SUI Price Analysis. Source: TradingView

However, delays in recovery could change the script. Should SUI fail to reclaim $3.16 soon, the altcoin risks slipping further. A failure to breach $3.39 or secure support at $3.18 could send the price tumbling toward $2.77, potentially invalidating the bullish thesis and signaling a trend reversal.

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Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.

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Aaryamann Shrivastava
Aaryamann Shrivastava is a technical and on-chain analyst at BeInCrypto, where he specializes in market reports on cryptocurrencies from diverse sectors, including Telegram Apps, liquid staking, Layer 1s, meme coins, artificial intelligence (AI), metaverse, internet of things (IoT), Ethereum ecosystem, and Bitcoin. Previously, he conducted market analysis and technical assessments of various altcoins at FXStreet and AMBCrypto, covering all aspects of the crypto industry, including...
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