"SUI's 30% Plunge: Crypto Expert Warns of Imminent Crash"

SUI's 30% Drop: Crypto Expert Warns of Potential Devastating Crash

The cryptocurrency market has been volatile in recent days, with many altcoins struggling to maintain their momentum. One such coin, SUI, has experienced a significant drop of 30% in its price, raising concerns among investors and analysts alike. According to a crypto expert, this drop could be just the beginning of a more devastating crash.

SUI, a popular altcoin, has been on a rollercoaster ride in recent months. After a brief reversal to the resistance level, the coin faced a pullback, dragging its price close to multi-month support. The bears have been exerting constant pressure, while the bulls have shown a lack of enthusiasm, potentially leading the rally towards lower ranges.

Adding to the concern is the fact that whales, who are often considered a reliable indicator of future price action, have turned bearish on SUI. In a recent update, these large investors have shed a significant portion of their holdings, raising fears about the coin's future prospects.

The Santiment data shared by a popular analyst, Ali, shows a massive drop in SUI whale holdings. They have offloaded nearly 4.3 million LINK in the last 48 hours, promoting bearish activity. This appears to be a quite significant move, possibly to take advantage of the market volatility.

Chainlink (LINK) Price Analysis

The latest rebound from the lows close to $15.5 was supported by over 1659 transactions with a minimum value of $100K. Meanwhile, the unique active LINK address shot up above 9500, which is the highest in the past 4 weeks. Despite this, the drop in whale accumulation, which has dropped from above 200 million to close to 181 million, seems to have dragged levels below the crucial range.

The latest pullback has dragged the LINK price below the ascending triangle while the bulls are trying hard to defend the support zone that it held since December. The volume fluctuates, which suggests a rise in volatility. Besides, the RSI continues to form lower highs and lows, indicating a rise in the bearish dominance, while the OBV triggered a bearish divergence before reaching the local highs.

These indicators suggest