Sui Token Drops 3.82% as Market Fear Intensifies

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 2 days ago

Should l Buy SUI?

Price Decline Trend: The Sui token has dropped 3.82% over the past 24 hours, currently trading at $0.901927, indicating a loss of investor confidence that may lead to further sell-offs.
Poor Market Performance: During the same period, the total crypto market capitalization decreased by 4.11%, with SUI also declining 1.24% against Bitcoin, reflecting its relative weakness and potential impact on its future market position.
Technical Analysis Warning: Technical forecasts suggest that SUI could fall by 23.17% over the next five days to $0.700653, indicating a bearish market sentiment with little sign of recovery in the short term.
Support and Resistance Levels: Key support levels for SUI are set at $0.926749, $0.912265, and $0.894462, while resistance levels are at $0.959036, $0.976840, and $0.991324, highlighting the market's heightened caution regarding price fluctuations.

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Technical Analysis for SUI

Technical Sentiment Analysis for Sui (SUI). As of , Sui (SUI) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 2 indicators are flashing buy, while 3 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	0.701	0.769	0.846	0.914	0.99	1.058	1.135
Fibonacci	0.769	0.824	0.858	0.914	0.969	1.003	1.058

About SUI

Sui is a groundbreaking layer-1 blockchain platform designed to support the needs of global adoption by offering a secure, powerful, and scalable development platform. At its core, Sui leverages a novel object-centric data model and the secure Move programming language to address inefficiencies prevalent in existing blockchain architectures.On top of strong technical foundations, Sui prioritizes user experience by eliminating barriers commonly associated with blockchain interactions. Through innovations like zkLogin, sponsored transactions, and programmable transaction blocks, Sui creates a higher standard for user experience within Web3 by ensuring applications are accessible and user-friendly.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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