- Sui gained more than 11.52 % in the past 24 hours, jumping from $ 2.17 to $ 2.42 before settling at $ 2.39.
- Altcoin faces multiple rejection processes at $ 2.50, which prevents more bullish trend.
The cryptocurrency market witnessed a decrease of 3.04 %, which sparked renewed optimism across various assets, in an attempt to return them to its highest previous levels. However, the batch is not strong enough, and market morale remains cautious, with the continued indicator of fear and greed at 22, which indicates a widespread fear. The fluctuation, especially for bitcoin, which witnessed deep losses, continues between 83 thousand dollars and 84 thousand dollars. However, the pioneer in Altcoins like Sui sees some green in its scheme.
Sui showed noticeable flexibility, and gained momentum during Asian trading hours. The original rose more than 11.52 % over the past 24 hours, climbing from the lowest level at $ 2.17 to the highest level during the defense $ 2.42 before restoring a little to $ 2.39 at the time of the press. The daily trading volume increased to 779.75 million dollars, while the liquidation decreased, as $ 1.20 million has been eliminated during the past 24 hours.
However, Altcoin was in the direction of a decline since mid -February due to the collapse of the global market, with 7.39 % last week and 33 % over the past month. SUI lost more than 55 % of its highest level ever at $ 5.35, registered in early January. This landmark prevented from breaking the level of its resistance and hindering more upscale movement. With this situation, SUI struggled to outperform the main resistance at $ 2.50 in the face of repeated rejection operations at this level.
Sui’s technical indicators indicate uncertainty
SUI’s current recovery attempts have failed, and the downward trend continues. In the SUI/USDT chart for 4 hours, the SUI price is higher than EMA for 21 days and 50 days, indicating the bullish and medium -term momentum. However, it is less than EMA for 100 days, indicating that the general trend still faces long -term resistance.
Zoom, the SuperTrend index turned red, indicating the potential pressure pressure, while RSI at 54 indicates a neutral momentum to a slightly climb. In addition, the MACD line refers to the signal line indicates an increase in purchase, but mixed signals highlight the possibility of another decrease.
If SUI fails to keep their current levels, it may review the decisive support areas at $ 2.10 and $ 1.85. The collapse without these levels may lead to deeper losses. On the other side, if the purchase pressure increases, SUI can re -test $ 2.50. Breaking this resistance may pay the original about $ 2.85, with extended gains that are likely to pay about $ 3.50 and beyond.
SUI ETF speculation is gaining traction
With the continued expansion of the SUI ecosystem, discussions about SUI ETF in the United States began to acquire momentum. Currently, VANECK offers sui transded (ETN) in Europe via Deutsche Börse and Euronext. Although it is not like ETF Spot, its success can encourage companies like Canary Capital to explore the US -based option in the near future.
While showing signs of recovery, analysts remain optimistic with caution about his next step. Will you penetrate the resistance or face another rejection? The coming days will be decisive in determining the course of the original.
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