SUI Drops 6% Amid Volatile Trading, Fails to Break $2.4 Resistance

On March 10, 2025, the cryptocurrency SUI experienced a tumultuous day, marked by significant price fluctuations and an inability to surpass the $2.4 resistance level. The day commenced with a bullish surge, as SUI's price climbed from $2.47 to $2.51 within the first hour, driven by a golden cross on the MACD line. However, this initial optimism was quickly dampened by a death cross on the MACD line at 01:35 UTC, which signaled an impending price drop. By 03:00 UTC, SUI had found support at $2.45.

At 3:20 UTC, another golden cross on the MACD line sparked an upward trend, propelling SUI to $2.52 by 07:30 UTC. However, as the RSI approached overbought conditions, a trend reversal was anticipated. This prediction materialized at 07:55 UTC with a death cross, leading to a steady decline in price. By 10:00 UTC, SUI had reached a low of $2.40, indicating a potential trading range between $2.40 and $2.43.

Despite hopes for a bullish breakout, the shorter EMA failed to surpass the longer EMA, and a death cross at 13:30 UTC triggered another downtrend. Although a brief reversal was observed, supported by a weak golden cross, it was short-lived and resulted in another downward channel. By 18:20 UTC, SUI had hit a new low of $2.25.

A significant golden cross at 18:25 UTC signaled an improvement, as SUI surged in an upward channel, reaching $2.38 by 19:10 UTC. However, the RSI soared into the overbought region, increasing selling pressure. The price faced resistance, and a death cross at 20:50 UTC marked the start of another downward channel. By 22:00 UTC, SUI had reached $2.29, and a short trading range was established for about an hour. Despite an attempted breakout, a death cross led to a further decline, with SUI finding support at $2.26 by 00:35 UTC