SUI Price Drops as Potential Death Cross Signals More Losses

SUI price has declined more than 3.5% in the last 24 hours, bringing its market cap to $13.4 billion, currently ranking it as the 14th largest crypto. Recent technical indicators paint a bearish picture, with the Chaikin Money Flow (CMF) turning negative and the Average Directional Index (ADX) signaling growing momentum within the ongoing downtrend.

Additionally, a death cross in SUI’s EMA lines shows the persistent downward pressure. Key support and resistance levels will play a pivotal role in determining whether SUI continues its descent or manages to reverse the current trend.

SUI CMF Dropped Heavily

SUI CMF (Chaikin Money Flow) has dropped to -0.15, down significantly from 0.10 just three days ago, indicating a notable shift in market sentiment. The CMF turning negative for two consecutive days suggests that selling pressure outweighs buying pressure, as more capital is flowing out of SUI.

This decline in CMF aligns with a bearish outlook, signaling reduced investor confidence and the possibility of continued price weakness.

SUI CMF. Source: TradingView

The CMF is a momentum indicator that measures the volume-weighted average flow of capital into or out of an asset. Values above zero indicate positive money flow, suggesting accumulation or buying dominance, while values below zero reflect negative money flow, indicating distribution or selling dominance.

With SUI CMF currently at -0.15, the persistent negative reading highlights sustained selling pressure, which could lead to further downward price movement unless buying momentum returns to counteract the current trend.