#SUI, , #BTC

#SEI
Alternative Coin Update: Sui and Sei Face the Risk of Extended Decline
The price of Sui is hovering around $2.93 at the time of writing this report, down 3% for the day. The layer one token, designed to provide a secure, powerful, and scalable development environment, is currently trading below the major moving averages, including the 100-day exponential moving average at $3.08, the 50-day exponential moving average at $3.03, and the 200-day exponential moving average at $3.01.

The small pullback from Thursday's high of $3.08 may evolve into a full downward trend if the Relative Strength Index (RSI) drops below the midline and extends towards the oversold area.

Re-testing the upper limit of the descending channel may provide the necessary liquidity for a stable recovery. However, it is too early to rule out the possibility of the price declining to previously tested support levels at $2.55 on June 22, $2.29 on June 22, and $1.70 on April 1.

However, the risk appetite for SUI stock may continue as the MACD indicator continues to show a buy signal, as indicated by the blue line crossing above the red line on Saturday.

If the Sui token breaks through the resistance level formed by the moving averages on the daily chart, the lower resistance path may turn upward, with targets at $3.30 and $4.00.
As for the Sai token, sellers are currently in control, continuing their decline of more than 3% during the day, and about 22% from the highest level recorded in June at $0.33. The downward resistance path appears to be less steep, as the MACD indicator is about to confirm a sell signal.

Traders will be watching for the blue MACD line to cross below the red signal line, indicating bearish momentum. If they reduce their exposure, upward pressure may intensify, increasing the risk of Sei's stock dropping in search of support at the confluence of the 50-day and 100-day exponential moving averages at $0.23.
On the other hand, the 200-day exponential moving average provides immediate support at $0.26, which may help stabilize the price in the upcoming sessions. Key areas of interest in case of recovery include the $0.29 level, which was tested as a resistance level on Thursday and marked the price in late February, in addition to the June peak at $0.33.