🚨🚨SUI Price Breached $1 Mark: Lower Low Cycle Still Intact?
🚀🚀The Sui Network token (SUI) price directs follow-on selloff and persists in forming the lower low sequences, which implies a chart downtrend. For weeks, the token failed to resist the selloff and has eroded over 40% of gains in the last 30 trading sessions.
Recently, the bear army succeeded in smashing the round mark of $1 and still tried to push the token toward its demand region around $0.9000.
At press time, the Sui token (SUI) price traded at $0.9986 with an intraday drop of 4.30%, reflecting bearishness on the charts. It has a monthly return ratio of -41.20% and -15.20% yearly.
The pair of SUI/BTC is at 0.0000163 BTC, and the market cap is $525.37 Million. Analysts are bearish and suggest that the SUI token will continue to underperform and may stretch the downmove to $0.9000 ahead.
Still Up To The Bears or Pullback Is On the Horizon?
Following the market correction, the SUI token displayed a severe downturn from the top mark of $2 and slipped to the low mark of $1. However, the trend still favours the bear cartel and directs bearish momentum on the charts. The long/short ratio was noted at 0.9106.
The price action directs the distribution from the supply region of $2, and buyers cannot halt the gains. Moreover, the trading volume remained flat, replicating the low investor interest. The intraday volume dragged over 4.38% to $198.75 million.
