SUI has displayed a classic reversal pattern known as a triple-top formation, indicating a potential shift from bullish to bearish momentum.
The triple-top formation near $3.085 on the price chart suggests weakening bullish efforts, with the price breaking below the $2.995 neckline support.
Key technical signals from Crypto Sat's analysis include trend exhaustion, a bearish support breakdown, and potential support levels at $2.92 to $2.87.
The breakdown below support, accompanied by increased volume, indicates a strengthening downside momentum, emphasizing the current bearish outlook for SUI.