SUI price prediction: Will a breakout above $2.52 ignite a reversal?

• SUI kinds a bullish inverse head and shoulders however struggles to interrupt above $2.52.
• Bearish momentum dominates as funding charges and liquidations sign short-term vendor management.

Sui [SUI] is presently forming an inverse head and shoulders sample, a traditional bullish reversal sign that usually emerges after prolonged downtrends.

The worth has bounced from the $2.20 assist zone, with the left and proper shoulders aligning close to $2.25, reinforcing a robust demand stage. 

Nevertheless, regardless of this technical setup, SUI has struggled to construct momentum above the $2.52 neckline—a vital resistance that should break to verify the sample. 

On the time of writing, SUI traded at $2.22, down 8.73% prior to now 24 hours, suggesting that sellers remained in management.

Until bulls reclaim management and push the value above $2.52 with sturdy quantity, the chance of additional draw back stays elevated.

Supply: TradingView

From a broader perspective, the day by day chart provides combined indicators. The MACD is slowly curling upward, indicating a attainable shift in momentum, although it nonetheless hovers in bearish territory.

Moreover, Fibonacci retracement ranges highlighted a significant assist zone between $2.16 and $2.22, which SUI was testing at press time. 

Nevertheless, failure to carry above this stage may expose the value to additional draw back towards the 1.618 Fib extension at $1.42. Due to this fact, a transfer above $2.52 is essential to shift momentum in favor of the bulls.

Supply: TradingView

Are bulls or bears dominating liquidations?

Liquidation information from the third of April confirmed a transparent imbalance between lengthy and quick positions. Lengthy liquidations hit $1.92 million, considerably outweighing quick liquidations, which totaled $675.78K. 

This prompt that bulls have been overexposed, and up to date worth drops might have flushed out weak fingers. Nevertheless, the surge in lengthy liquidations may also point out that the market has reset, giving room for stronger fingers to re-enter.

Supply: Coinglass

What does the Funding Fee say?

The OI-Weighted Funding Fee just lately turned barely unfavorable at -0.0056%, exhibiting that quick positions had been dominant at press time. This shift favored bears and highlighted the cautious sentiment amongst merchants. 

Nevertheless, the Funding Fee remained near impartial, signaling indecision and ready for a confirmed breakout or breakdown. Sentiment may flip quickly if worth motion confirms a breakout above $2.52.

Supply: Coinglass

Conclusion 

SUI stays beneath sturdy bearish momentum regardless of the bullish reversal potential proven by the inverse head and shoulders sample.

The worth has but to interrupt and maintain above the $2.52 neckline, which is the important affirmation stage for a pattern reversal. 

Till that occurs, sellers proceed to dominate the short-term outlook, and draw back danger towards the $2.16 and even $1.42 stage nonetheless lingers.

Due to this fact, a bullish reversal isn’t but possible—affirmation above $2.52 is crucial earlier than any bullish state of affairs might be thought-about dependable.