{"id":649927,"date":"2024-10-26T14:30:45","date_gmt":"2024-10-26T14:30:45","guid":{"rendered":"https:\/\/shenyangcang.com\/?p=649927"},"modified":"2024-10-26T05:59:31","modified_gmt":"2024-10-26T05:59:31","slug":"sui-rsi-drop-suggests-further-downside-risk","status":"publish","type":"post","link":"https:\/\/shenyangcang.com\/sui\/sui-rsi-drop-suggests-further-downside-risk\/","title":{"rendered":"SUI In Bear Territory: RSI Drop Suggests Further Downside Risk"},"content":{"rendered":"

As <\/span>SUI<\/span> dips further into bearish territory, technical indicators are increasingly signaling a challenging path ahead. A key measure, the Relative Strength Index (RSI), has turned negative, suggesting that selling pressure is mounting and that more downside may be on the horizon. <\/span> With SUI navigating this bearish shift, market participants are keeping a close eye on potential support levels, wondering if the asset can stabilize or if sellers will continue to drive prices lower.<\/span><\/p>\n

This analysis explores SUI\u2019s recent entry into bearish territory, examining the implications of the RSI\u2019s downward shift and the <\/span>potential<\/span><\/a> for more price declines. It also seeks to provide insights into the downside risks facing SUI by assessing key technical indicators and support levels, this piece.\u00a0<\/span><\/p>\n

Market Overview: SUI\u2019s Shift Into Bearish Territory<\/strong><\/h2>\n

On the 4-hour chart, SUI has shown strong bearish <\/span>momentum<\/span><\/a>, slipping below the 100-day Simple Moving Average (SMA) as it approaches the $1.4 mark printing multiple bearish candlesticks. The 100-day SMA, typically a significant support level, now acts as resistance, signaling a shift in sentiment where sellers have gained the upper hand.<\/span><\/p>\n

\"SUI\"
SUI negative movement strengths following a drop below the 100-day SMA | Source: SUIUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n

An analysis of the 4-hour <\/span>Relative Strength Index (RSI)<\/span> reveals that the indicator has now dropped to a low 23% level after a previous recovery attempt failed to hold at 52%. With the RSI now in the oversold zone, selling activity may be overextended, unless a significant influx of buying interest appears, SUI could remain under pressure, potentially leading to additional drops.<\/span><\/p>\n

Related Reading: SUI To Face Another Pullback Following 5.3% Dip, Analysts Forecast 30% Correction<\/a><\/div>\n

Also, on the daily chart, SUI is exhibiting a clear pessimistic path as it trends downward toward the $1.4 mark and approaches the 100-day SMA. The $1.4 level, alongside the 100-day SMA, acts as a crucial support area, and a break below these points could reinforce the current downtrend, potentially opening the door to further declines.<\/span><\/p>\n

\"SUI\"
SUI dropping toward the $1.4 level | Source: SUIUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n

Lastly, the daily RSI for SUI has dropped to 42%, significantly falling below the critical 50% threshold, which usually separates bullish from bearish territory. Typically, this decline highlights the strong <\/span>bearish<\/span><\/a> momentum, indicating that sellers are firmly in control and reflecting increasing pessimism about SUI’s price.<\/span><\/p>\n

Potential Price Targets: How Low Could SUI Go?\u00a0<\/strong><\/h2>\n

As SUI continues its negative movement, traders need to pinpoint potential price targets. If the $1.4 <\/span>support<\/span><\/a> level is breached, SUI could fall to $1.23, where buying interest may resurface. An extended drop below this level could trigger a deeper correction toward other support levels.<\/span><\/p>\n

Related Reading: SUI Eyes Potential Pullback As RSI Flashes Warning: $1.4 Retest In Sight<\/a><\/div>\n

Conversely, should the cryptocurrency manage to hold its position above $1.4, it could indicate a potential reversal, enabling bulls to reclaim some control in the market thereby driving the price higher toward the $2.1 <\/span>resistance<\/span><\/a> level and beyond.<\/span><\/p>\n

\"SUI\"
SUI trading at $1.75 on the 1D chart | Source: SUIUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image from LinkedIn, chart from Tradingview.com<\/em><\/div>\n","protected":false},"excerpt":{"rendered":"

As SUI dips further into bearish territory, technical indicators are increasingly signaling a challenging path ahead. A key measure, the Relative Strength Index (RSI), has turned negative, suggesting that selling pressure is mounting and that more downside may be on the horizon. With SUI navigating this bearish shift, market participants are keeping a close eye on potential support levels, wondering if the asset can stabilize or if sellers will continue to drive prices lower. This analysis explores SUI\u2019s recent entry into bearish territory, examining the implications of the RSI\u2019s downward shift and the potential for more price declines. It also seeks to provide insights into the downside risks facing SUI by assessing key technical indicators and support levels, this piece.\u00a0 Market Overview: SUI\u2019s Shift Into Bearish Territory On the 4-hour chart, SUI has shown strong bearish momentum, slipping below the 100-day Simple Moving Average (SMA) as it approaches the $1.4 mark printing multiple bearish candlesticks. The 100-day SMA, typically a significant support level, now acts as resistance, signaling a shift in sentiment where sellers have gained the upper hand. An analysis of the 4-hour Relative Strength Index (RSI) reveals that the indicator has now dropped to a low 23% level after a previous recovery attempt failed to hold at 52%. With the RSI now in the oversold zone, selling activity may be overextended, unless a significant influx of buying interest appears, SUI could remain under pressure, potentially leading to additional drops. Related Reading: SUI To Face Another Pullback Following 5.3% Dip, Analysts Forecast 30% Correction Also, on the daily chart, SUI is exhibiting a clear pessimistic path as it trends downward toward the $1.4 mark and approaches the 100-day SMA. The $1.4 level, alongside the 100-day SMA, acts as a crucial support area, and a break below these points could reinforce the current downtrend, potentially opening the door to further declines. Lastly, the daily RSI for SUI has dropped to 42%, significantly falling below the critical 50% threshold, which usually separates bullish from bearish territory. Typically, this decline highlights the strong bearish momentum, indicating that sellers are firmly in control and reflecting increasing pessimism about SUI’s price. Potential Price Targets: How Low Could SUI Go?\u00a0 As SUI continues its negative movement, traders need to pinpoint potential price targets. If the $1.4 support level is breached, SUI could fall to $1.23, where buying interest may resurface. An extended drop below this level could trigger a deeper correction toward other support levels. Related Reading: SUI Eyes Potential Pullback As RSI Flashes Warning: $1.4 Retest In Sight Conversely, should the cryptocurrency manage to hold its position above $1.4, it could indicate a potential reversal, enabling bulls to reclaim some control in the market thereby driving the price higher toward the $2.1 resistance level and beyond. Featured image from LinkedIn, chart from Tradingview.com<\/p>\n","protected":false},"author":608,"featured_media":649928,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[91523],"tags":[16393,14763,91599,85676,87261,88414,88415],"class_list":["post-649927","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-sui","tag-relative-strength-index","tag-rsi","tag-simple-moving-average","tag-sma","tag-sui","tag-suiusd","tag-suiusdt"],"acf":[],"yoast_head":"\nSUI In Bear Territory: RSI Drop Suggests Further Downside Risk<\/title>\n<meta name=\"description\" content=\"As SUI dips further into bearish territory, technical indicators are increasingly signaling a challenging path ahead.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" 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I grew up with my three siblings who have always been my idols and mentors, helping me to grow and understand the way of life. My parents are literally the backbone of my story. They\u2019ve always supported me in good and bad times and never for once left my side whenever I feel lost in this world. Honestly, having such amazing parents makes you feel safe and secure, and I won\u2019t trade them for anything else in this world. I was exposed to the cryptocurrency world 3 years ago and got so interested in knowing so much about it. It all started when a friend of mine invested in a crypto asset, which he yielded massive gains from his investments. When I confronted him about cryptocurrency he explained his journey so far in the field. It was impressive getting to know about his consistency and dedication in the space despite the risks involved, and these are the major reasons why I got so interested in cryptocurrency. Trust me, I\u2019ve had my share of experience with the ups and downs in the market but I never for once lost the passion to grow in the field. This is because I believe growth leads to excellence and that\u2019s my goal in the field. And today, I am an employee of Bitcoinnist and NewsBTC news outlets. My Bosses and co-workers are the best kinds of people I have ever worked with, in and outside the crypto landscape. I intend to give my all working alongside my amazing colleagues for the growth of these companies. Sometimes I like to picture myself as an explorer, this is because I like visiting new places, I like learning new things (useful things to be precise), I like meeting new people - people who make an impact in my life no matter how little it is. One of the things I love and enjoy doing the most is football. It will remain my favorite outdoor activity, probably because I'm so good at it. I am also very good at singing, dancing, acting, fashion and others. I cherish my time, work, family, and loved ones. I mean, those are probably the most important things in anyone's life. I don't chase illusions, I chase dreams. I know there is still a lot about myself that I need to figure out as I strive to become successful in life. I\u2019m certain I will get there because I know I am not a quitter, and I will give my all till the very end to see myself at the top. I aspire to be a boss someday, having people work under me just as I\u2019ve worked under great people. This is one of my biggest dreams professionally, and one I do not take lightly. Everyone knows the road ahead is not as easy as it looks, but with God Almighty, my family, and shared passion friends, there is no stopping me.","sameAs":["https:\/\/x.com\/NFTwerey"],"url":"https:\/\/shenyangcang.com\/author\/godspowerowie\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"SUI In Bear Territory: RSI Drop Suggests Further Downside Risk","url":"http:\/\/shenyangcang.com\/sui\/sui-rsi-drop-suggests-further-downside-risk\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/shenyangcang.com\/sui\/sui-rsi-drop-suggests-further-downside-risk\/"},"thumbnailUrl":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/10\/SUI-from-LinkedIn.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/10\/SUI-from-LinkedIn.jpg?fit=800%2C400"},"articleSection":"SUI","author":[{"@type":"Person","name":"Godspower Owie"}],"creator":["Godspower Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["relative strength index","rsi","simple moving average","sma","sui","suiusd","suiusdt"],"dateCreated":"2024-10-26T14:30:45Z","datePublished":"2024-10-26T14:30:45Z","dateModified":"2024-10-26T14:30:45Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"SUI In Bear Territory: RSI Drop Suggests Further Downside Risk\",\"url\":\"http:\\\/\\\/shenyangcang.com\\\/sui\\\/sui-rsi-drop-suggests-further-downside-risk\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/shenyangcang.com\\\/sui\\\/sui-rsi-drop-suggests-further-downside-risk\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/shenyangcang.com\\\/wp-content\\\/uploads\\\/2024\\\/10\\\/SUI-from-LinkedIn.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/shenyangcang.com\\\/wp-content\\\/uploads\\\/2024\\\/10\\\/SUI-from-LinkedIn.jpg?fit=800%2C400\"},\"articleSection\":\"SUI\",\"author\":[{\"@type\":\"Person\",\"name\":\"Godspower Owie\"}],\"creator\":[\"Godspower Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/shenyangcang.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"relative strength index\",\"rsi\",\"simple moving average\",\"sma\",\"sui\",\"suiusd\",\"suiusdt\"],\"dateCreated\":\"2024-10-26T14:30:45Z\",\"datePublished\":\"2024-10-26T14:30:45Z\",\"dateModified\":\"2024-10-26T14:30:45Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/shenyangcang.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/10\/SUI-from-LinkedIn.jpg?fit=800%2C400","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts\/649927","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/users\/608"}],"replies":[{"embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/comments?post=649927"}],"version-history":[{"count":4,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts\/649927\/revisions"}],"predecessor-version":[{"id":649964,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts\/649927\/revisions\/649964"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/media\/649928"}],"wp:attachment":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/media?parent=649927"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/categories?post=649927"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/tags?post=649927"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}