$SUI Price Reversal Imminent as Bullish Divergence Gains Traction
The Sui price continues to fall on its daily chart, but there's an interesting signal emerging in the longer-term momentum.
As of now, $SUI trades at $0.7621, below all its EMAs: the 20-day at $0.7459, 50-day at $0.7368, 100-day at $0.7839, and 200-day at $0.9865.
The descending Supertrend channel from May's highs remains intact, with price stuck between $0.70 to $0.80 for the past month without a clean breakout.
However, on the $SUI/$BTC chart, analyst CryptoMichNL has flagged a falling wedge pattern with a bullish RSI divergence, a setup that historically precedes reversals.