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Sui's (SUI) breathless rise has been stopped!
Sui (SUI), which has achieved incredible popularity by rising 90 percent in just one week, is now experiencing a correction.
Unable to withstand the SUI selling pressure that swept the market with its recent rises, it retreated a little. The popular coin, which has increased by 90.90% almost continuously, continues its downward movement by falling below an important support level. In addition, with a negative performance of 6.46 percent in the last 24 hours, it ranked second on the "Most Very Losers" list.
Which levels are important to follow for SUI, which maintains interest despite experiencing a decline of more than 17 percent in a short time?
With the momentum it has caught, the SUI, which has broken the resistance levels in a voluminous and stable manner, is loosening towards an important area for the time being. After failing to break above $1.4504, the SUI fell 17.08% and if it fails to bounce off $1.1104, it could fall sharply towards $0.9992 – 0.9211 – 0.7853 and $0.7178, respectively. At this point, investors waiting to buy at $0.7853 will be decisive. This value, where the real rise has begun, can draw the short/medium-term price structure of SUI.
The development of the Sui ecosystem day by day, BTC settling above $43,000, or positive news from the industry as a whole could push the SUI price up to $1.2802 – $1.3632 and $1.4504, respectively. A break of $1.4504 could lead to a move towards the initial listing price ($two on average). It is already eagerly awaited how Sui, which is seen as one of the most potential projects of 2024, will exhibit a price movement.