Sui Network Faces Third Major Outage, Traders Lose $1.88 Million
- Severe Trading Losses: Sui network experienced three outages within 48 hours, resulting in trader losses of up to $1.88 million, with long positions accounting for $1.72 million, highlighting the vulnerability of leveraged traders.
- Token Price Plummets: Following the third outage, Sui token fell to $0.9035, down approximately 16% from the previous week, breaking the $1.00 support level that had held for much of 2024, leaving its market value around $3.6 billion.
- Cause of Outages: The failures were traced to a bug in the gas charging logic introduced in software version 1.72, which froze the mainnet for nearly six hours; while validators remained online and processed system transactions, user transactions halted entirely, disrupting decentralized finance activities.
- Network Recovery and Future Outlook: The network recovered on May 29 after more than two-thirds of validators upgraded to a patched build, and the team has promised a detailed incident review to prevent similar outages in the future.
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Technical Analysis for XMR
Technical Sentiment Analysis for Monero (XMR). As of , Monero (XMR) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 8 technical signals, shows that 3 indicators are flashing buy, while 5 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for XMR 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, XMR 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 $-.
Monero (XMR) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 157.374 | 224.937 | 287.544 | 355.107 | 417.714 | 485.277 | 547.884 |
| Fibonacci | 224.937 | 274.662 | 305.382 | 355.107 | 404.832 | 435.552 | 485.277 |
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