SUI seems overheated, and a correction is just beginning.
2024-12-20
Category: None

While this coin has the potential to surprise—thanks to strong backing from major VCs and quality market makers—it appears too overheated to sustain further growth without a correction.  

In fact, the correction has already begun, as indicated by the **bearish MACD EMA crossover**.  
- The **RSI also shows a significant bearish divergence**, reinforcing the likelihood of a pullback.  

Adding to this, many investors were drawn in by SUI's massive pump but may now begin to lose confidence. If SUI dips below the key support level, we could see a cascade of selling pressure:  
- Leverage positions liquidated.  
- Stop-loss orders triggered.  

Based on these signals, I anticipate a serious correction that could drive the price down to $2.  

Key levels to watch:  
- If  CRYPTOCAP:SUI  drops below $3.20, there’s little support until $2.35.  
- Exercise caution and monitor these levels closely.  

As always, **DYOR (Do Your Own Research).** 🚨