ShareSui Launches Public Testing for New Privacy System
- Privacy Transfer Feature: ShareSui has launched a public beta for its privacy transfer feature on Devnet, allowing users to hide token balances and transfer amounts while maintaining compliance, marking a significant departure from traditional privacy coins to meet financial workflow privacy needs.
- Technical Implementation: The system utilizes Twisted ElGamal cryptography and zero-knowledge proofs to ensure transaction validity without exposing specific amounts, while allowing authorized auditors to decrypt balances when necessary, enhancing compliance and audit capabilities.
- Positive Market Reaction: Following the privacy feature announcement, SUI token rose nearly 5% on June 9, trading around $0.76, indicating market approval of this privacy solution, although the overall technical picture remains mixed.
- Future Challenges and Opportunities: Despite experiencing three mainnet outages in May that raised concerns about operational reliability, the launch of privacy transfers presents new opportunities for attracting institutional users, particularly as payment companies and stablecoin issuers increasingly demand privacy.
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Technical Analysis for SUI
Technical Sentiment Analysis for Sui (SUI). As of , Sui (SUI) is exhibiting a Strong sell technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 0 indicators are flashing buy, while 5 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for SUI stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, SUI is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Sui (SUI) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.558 | 0.61 | 0.677 | 0.729 | 0.795 | 0.848 | 0.914 |
| Fibonacci | 0.61 | 0.655 | 0.683 | 0.729 | 0.774 | 0.802 | 0.848 |
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