Cryptocurrency analyst Jason Pizzino is warning about a potential crash for Sui (SUI), a competitor to Solana (SOL). He believes SUI is mirroring a past price pattern that could lead to significantly lower prices.
SUI’s Troubling Pattern
Pizzino, who boasts a large YouTube following, points to an “overbalance” in SUI’s price and time following a previous drop to $2.38. This overbalance, he explains, means the price fell further and for a longer period than typical corrections during the bull market. He compares this to a similar crash from April to August 2024, where SUI plummeted from around $2 to below $1 before another sharp decline.
Pizzino’s Price Targets
Pizzino’s analysis suggests that if SUI fails to hold the $2 support level, it could fall to $1.60, or even as low as $1.10 to $1.20, potentially reaching levels around $0.73. He emphasizes that this is based on the observed pattern and not a guaranteed prediction.
Current Market Conditions
At the time of writing, SUI is trading at $3.60, showing a 14% increase over the past 24 hours. However, Pizzino’s warning highlights the potential for a significant reversal.
Disclaimer: This information is for educational purposes only and should not be considered investment advice. Always conduct your own research before making any investment decisions./p>
