Amid the low market morale, it appears that the original Sui Blockchain symbol is likely to turn to a decrease in prices from two numbers, as it formed a declining work pattern in the daily time frame. This descending view of SUI has turned with its failure to obtain decisive support from the emerging trend line it was witnessing for a long time.
Sui technical analysis and upcoming levels
According to the expert technical analysis, with a decrease in the price of today, SUI has successfully confirmed its declining collapse and succeeded in converting the entire feelings towards the declining side.
Based on the latest procedures for prices and historical momentum, if SUI has less than 4 dollars, there is a strong possibility that can decrease by 35 % to reach the level of $ 2.30 in the future. On the positive side, the SUI (RSI) relative index is 35.5, indicating that the original has enough space for further decreases.
Sui is currently trading near $ 3.66 and has witnessed a decrease in prices to more than 8.50 % during the past 24 hours. During the same period, the trading volume decreased by 55 %, indicating a decrease in participation from merchants.
At $ 18.5 of the external flow
Moreover, it seems that the low prices of the dumpted and strong morale in the downsic market, and it seems that long -term holders accumulate the distinctive symbol, indicating a potential purchase opportunity, as the analysis company revealed the series Coinglass. Data from the immediate flow/external flow revealed that exchanges have seen a large flow of more than $ 18.5 of Sui’s distinctive symbols.
This large external flow of stock exchanges indicates a possible accumulation and can cause purchase pressure and more prices in prices, which seems difficult to face due to a declining feeling.
As of now, the main liquidation levels are approaching $ 3.56 on the bottom side and $ 3.85 on the upper side, with excessive merchant traders at these levels, Coinglass said.
