Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. SUIhas recently exhibited a classic reversal pattern, forming a well-defined triple-top formation on its price chart. This technical setup often signals a potential shift from bullish to bearish momentum, as repeated attempts to break a resistance level falter. Traders and investors are now closely watching to see if this pattern will trigger a downward correctionor if the bulls can regain control. SUI Weakens After Forming Triple Top Near $3.085
Crypto Sat recently stated in a poston X that SUI has just printed a classic Triple Top patternon the 15-minute chart — and the outlook is not looking bullish at the moment. Related Reading Breakout In Sight? SUI Set To Test Crucial $3.5 Resistance With ATH In View 3 weeks ago
According to Crypto Sat, the three peaks labeled Top 1, Top 2, and Top 3 are formed near the $3.085 zone, with each successive peak showing less momentum. Now, the price is breaking down below the $2.995 level, which had been acting as the neckline supportfor this pattern. SUI bullish triple-top pattern emerges | Source: Crypto Sat on X
This breakdown below the neckline support signals that the bullish effort is weakening and opens the door for potential further downside movement. Traders should watch this key level closely as it may set the tone for the next price action. Key Takeaways from Crypto Sat’s Analysis
According to Crypto Sat, several key technical signals have emerged on SUI’s chart, reinforcing the bearish implications of the recently formed Triple Top pattern. Pattern Identification: Crypto Sat considers the pattern as a classic indicator of trend exhaustion, where repeated failed attempts to push higher signals weaken bullish pressure. Related Reading SUI Meteoric Rise: Golden Cross Signals A Potential 380% Explosion 3 weeks ago
Support Breakdown: The drop beneath the $2.995 neckline, which Crypto Sat identifies as a key support, marks a bearish turning point. Next Support Targets: Crypto Sat points to the next important support levels between $2.92 and $2.87, which could act as potential zones for price stabilization or further selling if breached.
Volume Confirmation: The breakdown below support occurred alongside an uptick in volume, reinforcing Crypto Sat’s view that downsidemomentum is gaining strength and the bears have the upper hand for now.
In line with Crypto Sat’s analysis, this technical pattern and volume-backed breakdown highlight increased downside risk ahead unless a strong bullish reversal emerges. The analystfurther cautioned that if buyers fail to step in promptly, the price may soon retest the $2.85 to $2.87 support zone in the short term. While it is still early in the move, the breakdown structure is clearly in place. Traders should monitor the situation closely for signs of a potential bounce or continued selling pressure. SUI trading at $2.9 on the 1D chart | Source: SUIUSDT on Tradingview.com Featured image from Adobe Stock, chart from Tradingview.com