Crypto
SUI Prices Plummet, Sellers Gain Upper Hand Amid BTC Correlation
SUI is struggling to maintain its price after a significant drop of -7.59% on September 10, leaving it below its 200-day SMA with flat MACD momentum.
The chart suggests exhaustion, and the coin's price is clinging to its 20-day SMA at $0.77. The 200-day SMA currently stands at $0.85, indicating a structurally broken long-term trend.
A look at the MACD histogram reveals a flat zero reading, with lines kissing at identical values, indicating momentum has been drained from the market. This configuration typically resolves to the downside before any sustainable move higher can materialize.