Sui (SUI), one of the rising Layer-1 blockchain projects, is facing bearish pressure, with analysts predicting a potential drop to $1.60 in the near term. Despite its recent price gains, several key factors indicate that a correction may be on the horizon.
Why SUI Could Drop to $1.60
🔻 Overbought Conditions – Technical indicators, such as the Relative Strength Index (RSI), suggest that SUI is currently in the overbought zone, making it vulnerable to a pullback.
📉 Weak Support Levels – Analysts point out that $1.60 is a strong support level, meaning if selling pressure increases, SUI could retest this price before bouncing back.
🔄 Market-Wide Correction – The broader crypto market is experiencing short-term consolidation, with Bitcoin and Ethereum struggling to maintain recent gains. If BTC dips, SUI could follow.
Will SUI Rebound?
While a drop to $1.60 is possible, long-term fundamentals remain strong for Sui, driven by its high-performance blockchain, growing ecosystem, and DeFi adoption. If support holds at $1.60, traders may see a buy-the-dip opportunity for future gains.
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