Crash

Based

bullish

Bitcoin

<p>With the crypto market taking a bullish reversal this week, Bitcoin momentarily topped the $66,000 mark. Amid the increasing bullish momentum, the SUI token marks a new all-time high at $2.3661.&nbsp;</p>  
<p>However, despite the bullish recovery this week, the lack of bullish exhaustion leads to a minor pullback in the altcoin. Will the pullback in SUI result in a drop below $2? Check out Coinpedia’s SUI price analysis to know more.&nbsp;</p>  
<h2 class="wp-block-heading" id="h-sui-price-analysis">SUI Price Analysis</h2>  
<p>In the last 48 hours, the SUI price has dropped by 7.07%, leading to two consecutive bearish candles. Nevertheless, the pullback comes as a retest of the rounding bottom breakout with a neckline near the $2 psychological mark.&nbsp;</p>  
<figure class="wp-block-image size-large"><img src="https://image.coinpedia.org/wp-content/uploads/2024/10/15123626/FgTCyYUu-1024x511.png" alt="Sui price chart" class="wp-image-366104">
</figure>  
<p><a href="https://www.tradingview.com/x/FgTCyYUu/" target="_blank" rel="noopener noreferrer nofollow">Tradingview</a></p>  
<p>Furthermore, the triple white soldier's pattern formed over the last weekend, accounting for a 27% surge, maintains a bullish dominance at the $2 psychological mark.&nbsp;</p>  
<p>The 50 and 200 EMA maintain a bullish trend following the golden crossover. However, the slowdown in the daily RSI line near the overbought boundary level teases a potential slowdown and a deeper pullback in the SUI price.&nbsp;</p>  
<h2 class="wp-block-heading" id="h-analyst-warns-of-a-downfall-ahead">Analyst Warns of a Downfall Ahead!</h2>  
<p>In a recent <a href="https://x.com/ali_charts/status/1845964803879174614" rel="noopener noreferrer nofollow">X post</a>, Martinez Ali, a cryptoanalyst, warns of a minor pullback in the SUI price. Based on the TD Sequential Indicator, Martinez highlights a spot on the weekly chart flashing a sell signal.&nbsp;</p>  
<p>Furthermore, he highlights the weekly RSI line witnessing a downtick in the overbought zone. However, he highlights that he is not saying to go and short the altcoin. He is just asking investors to be careful.</p>  
<h2 class="wp-block-heading" id="h-where-s-sui-price-headed">Where’s SUI Price Headed?</h2>  
<p>Based on the Fibonacci level, the previous 100% level at $2.0774 could hold the retest phase for a post-retest reversal. Hence, a bullish comeback from the $2 mark could scale the altcoin to the 1.272 Fibonacci level near the $2.50 psychological mark. Beyond this, the highly anticipated $3 target at $1.618 Fibonacci level is possible and seems realistic as the broader market recovers.&nbsp;</p>  
<p>On the flip side, the crucial support levels for SUI tokens are at $1.95 and $1.74 below the $2 psychological mark.</p>  
<p>Wondering if the bull run in SUI will hit $5 in 2024? Find out now in Coinpedia’s well-rounded <a href="https://coinpedia.org/price-prediction/sui-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">SUI price prediction</a>!</p>

Altcoin Crash Alert: SUI Price Dips 7%, Is $2 Crash Imminent?

Table of Contents

CoinPedia News

Other articles published on Oct 15, 2024

FalconX Launches Auto-Liquidation Service for APAC Crypto Miners, Enhancing Capital Efficiency

Pell Network Announces $3M Pre-Seed Funding to Advance Decentralized Verification Services

IntoTheBlock Analyzes Base’s Potential to Lead Layer-2 Networks

UnitedHealth Group (UNH) Beats Q3 Expectations with $7.15 EPS

Tesla moves entire $765M Bitcoin stash to unknown wallets

Investors Bet Big on New TradFi Token Ahead of ETH and SOL

Join our free newsletter for daily crypto updates!