Crypto analyst Jason Pizzino warns investors that China may enter a major correction of China, a Solana rival. According to Pizzino, water can repeat a price movement in the past. If the scenario progresses the same, the price may fall below $ 2. Investors should follow the critical support levels carefully.
The moment of breaking for popular Altcoin is approaching!
Pizzino says that there is an extreme imbalance in SUI’s price movements. Coin experienced a longer and deep decrease in the bull market than previous corrections. This may be a harbinger of a greater collapse. Especially the fluctuation seen in recent days worries investors.
The water showed a similar movement at the beginning of 2024. At that time, the price declined from $ 2 to $ 1. Now, if he cannot maintain the $ 2 level, a new downward trend may start. Past data show that there is no strong support below this level.
Water can fall to $ 1.60!
According to the analyst, if the support of $ 2 is broken, the target of water may be $ 1.60. It can even go down to $ 1.10 or $ 1.20 in a larger panic sale. Looking at the past declines, this scenario does not seem impossible at all. Investors should be careful when evaluating purchasing opportunities at these levels.
However, for the time being, the $ 2 level is seen as a critical threshold. If the water cannot maintain this point, investors may face a greater collapse. The price is even possible to go down to $ 0.73. While the uncertainty in the market continues, technical indicators point to the risk of decrease.
Altcoin price is on the rise but the risk is big!
The water increased by 14 %in the last 24 hours to $ 3.60. However, this increase may mislead investors. Past price movements show that there may be big decreases after sudden rise. Considering the volatility in the crypto market, there is still a major risk for water.
According to Pizzino, water may still be on the verge of a large correction. If whales sell, the price can rapidly go below $ 2. Investors should be careful and closely monitor critical support levels. The use of stop-loss is of great importance in this process, especially in high volatility.
