Sui Cryptocurrency Plummets 60% in 90 Days, Bears Eye Further Losses

Sui, a prominent cryptocurrency, has experienced a significant decline in its value over the past 90 days, losing approximately 60% of its worth. This downward trend has raised concerns among investors and analysts alike, who are now predicting further losses for the digital asset. The cryptocurrency, which has been a subject of interest in the financial markets, is expected to continue its downward trajectory, potentially reaching new lows in the near future.

The recent analysis and prediction for Sui, conducted on April 6, indicate that the cryptocurrency is poised to claim more lows. This forecast is based on the cryptocurrency's performance over the past three months, during which it has seen a substantial decrease in value. The analysis suggests that the current market conditions and investor sentiment are not favorable for Sui, and that the cryptocurrency may continue to face challenges in the coming days.

Starting the year on a bearish note, Sui went through a lot of reductions as the price flipped several key support levels and ended the first quarter at a loss. It currently appears weak daily as it sets to advance drag down. Looking back from when the price started to fall on January 6, Sui recorded a lot of losses and now looks highly bearish on the daily chart. In fact, the asset is yet to slow down as it recently resumed selling.

Prior to the latest drop, it saw a small gain during last month’s recovery. That led to a pause in the short-term fall, but it eventually lost steam and resumed bearish after failing to push above the key $3 level. This led to a painful week as the crypto lost over 15% of its value. However, there’s still hope for a rebound if the bulls can defend the previous monthly low well. If they fail, we can expect an extension.

No doubt, the bears are fully back in action, and as it stands now, they are on the verge of reclaiming the previous low. A breakthrough that low could trigger a big collapse to under the $1 level in the far term. Following this latest drop, the bears may face small hurdles at $1.96. A breakdown there could slide the market to $1.6 and potentially $1.1.

If a bounce occurs, it must reclaim the recently lost $2.83 resistance level before considering an increase to $3.26. The $3.74 level is the next resistance to watch. Key Resistance Levels: $2.83, $3.26, $3.74. Key Support Levels: $1.96, $1.6, $1.1.

According to the analyst's forecast, Sui is expected to open at $2.22 on the upcoming trading day, with a potential range of movement between $1.98 and $2.46 based on the 14-day Average True Range. This prediction highlights the volatility of the cryptocurrency market and the potential for significant price fluctuations. However, it is important to note that these are forecasts and not guaranteed outcomes, and the actual performance of Sui may vary.

The current market conditions and investor sentiment are likely to play a crucial role in determining the future performance of Sui. The cryptocurrency market is known for its volatility, and sudden changes in market conditions can have a significant impact on the value of digital assets. Investors and analysts will be closely monitoring the performance of Sui in the coming days, as any further declines could have implications for the broader cryptocurrency market.

In conclusion, the recent analysis and prediction for Sui indicate that the cryptocurrency is likely to face further challenges in the near future. The significant decline in its value over the past 90 days, coupled with the current market conditions and investor sentiment, suggest that Sui may continue to claim more lows. However, it is important to remember that the cryptocurrency market is unpredictable, and the actual performance of Sui may differ from the forecasted outcomes. Investors and analysts will be closely monitoring the situation, as any further developments could have implications for the broader market.