In a video, Clinix Crypto examined the variables influencing the price of the SUI token and offered a thorough technical analysis. While the token has shown promise in the long term, short-term market conditions have created uncertainty.
The discussion covers both the technical movements of the token and rumors that may have influenced its current state.
What you'll learn 👉
SUI Price Pullback and Current Support Levels
According to Clinix Crypto, SUI’s price has pulled back to a key support range between $2.15 and $1.9, a move predicted by earlier technical analysis.
This price drop aligns with broader struggles seen across the altcoin market, driven by a rising Bitcoin dominance. The presenter highlighted that this trend is a signal of bearish momentum in altcoins, including SUI.
Despite the short-term downtrend, the analyst emphasized that SUI remains fundamentally strong. He described the token’s core foundation as bullish, pointing out that while short-term volatility exists, long-term prospects remain positive.
However, the immediate technical outlook suggests potential bearish momentum could continue for some time.
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Show more +Rumors and Market Sentiment Surrounding SUI
The video also touched on circulating rumors or “FUD” (Fear, Uncertainty, and Doubt) surrounding SUI. One rumor suggests that 400 million tokens have been sold by either the team or investors, which could have contributed to the recent price drop.
While the presenter admitted he could not verify this information, he explained that such sales could logically align with the token’s movement.
Additionally, the presenter speculated that SUI has spent large amounts, potentially exceeding a million dollars, on promotions via YouTubers and market makers. These efforts to boost the token’s price may have led to the recent selling pressure, causing the price to break key support levels.
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SUI Technical Analysis: Short-Term Bearish Outlook
On the technical side, SUI’s recent breakdown below the $2.15 support level was a crucial signal for short-term traders. The presenter described this as a key indicator of further potential downside. The token is expected to consolidate around $1.95 to $1.9, with the possibility of dropping to $1.75.
Clinix Crypto kept the token’s long-term outlook cautiously hopeful despite the short-term unfavorable trend. The speaker emphasized that SUI’s trading volume on decentralized exchanges (DEX) is still high, and the total value locked (TVL) in SUI has stayed mostly steady.
The speaker reaffirmed his optimism about SUI’s long-term prospects, even though he did not anticipate further highs soon. Strong fundamentals for the token indicate that it is still a viable project with room to develop in the future, as evidenced by continuous TVL and stable trade volumes.
If the bearish trend persists, investors may find an appealing purchasing opportunity at the lower price levels of $1.75 to $1.8.
Finally, Clinix Crypto’s analysis suggests that even if SUI’s price is currently seeing short-term bearish momentum, the token’s long-term outlook is excellent. It is recommended that investors exercise caution in the short term and monitor any prospects for a comeback later in the year.
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