Sui Blockchain Outage Lasts Six Hours Due to Gas Charging Bug
- Outage Cause Identified: The Sui blockchain experienced a six-hour outage on May 28 due to a crash bug in the gas charging logic introduced in version 1.72, which halted block production and transaction validation, preventing users from conducting any transactions.
- Widespread Impact: During the downtime, multiple protocols including Cetus, NAVI, Panzerdogs, and stablecoin USDC were affected, as block explorers showed the latest confirmed blocks remaining static, indicating a complete network paralysis.
- Token Price Fluctuation: The halt in block finality across decentralized applications led to an approximate 8% drop in the $SUI token price, marking the second major stall for the network in five months, raising concerns about its reliability.
- Future Outlook: Although the core team has yet to release a detailed post-mortem report, one is expected to outline the root cause and preventive measures to address the recurring network outage issues and restore user confidence.
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Technical Analysis for SOL
Technical Sentiment Analysis for Solana (SOL). As of , Solana (SOL) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 2 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for SOL 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, SOL 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 $-.
Solana (SOL) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 48.464 | 55.402 | 62.214 | 69.152 | 75.964 | 82.902 | 89.714 |
| Fibonacci | 55.402 | 60.654 | 63.9 | 69.152 | 74.404 | 77.65 | 82.902 |
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