The post SUI PRICE ANALYSIS & PREDICTION (February 6) – Bears Set For a Long Ride as SUI Gathers Momentum, Bigger Drops Ahead? appeared on BitcoinEthereumNews.com.

SUI is currently down 5% weekly but the price is still within a buy range if the bulls commit. But from a technical standpoint, the asset is staging a short-term correction as it continues to contract daily. SUI’s bears look set for a long ride following a serious price contraction since it initiated drops from the peak of $5.36 earlier last month. As seen among many other crypto-assets three days ago, it has recovered nicely from the crash but the bears are not giving up as they continue to mount pressure daily. Right now, trading looks a bit positive but things might get uglier in the coming days due to the latest price contraction. While this price contraction suggests that the crypto is heavily gathering momentum, we can expect a serious expansion to the downside once Link’s supply level increases. This may cause a major deduction capable of plunging the price back to $1 in the far term. However, if the bulls react well to the move by intercepting further losses below the $2 level, we may see a solid comeback. If that happens, we can expect a pushback to the recent peak before considering another major positive shift in the trend. A technical look at the market suggests that the bears are likely to gain more ground in the next few days. SUI Key Levels To Watch Source: Tradingview The resistance levels to watch for drops right now are $2.97 and $2.4. Lower levels to consider for tests are $2 and $1.75 before falling hard. If the bulls push back, the immediate obstacle level for them is the $4 resistance, followed by the $5.36 resistance. Breaking it should send the price to $7 and potentially $10. Key Resistance Levels: $4.25, $5.36, $7 Key Support Levels: $2.973, $2.4, $2 Spot…

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Filed under: News - @ February 6, 2025 4:25 pm