The cryptocurrency market faces winds against when geopolitical tensions and security concerns weigh on the feeling of investors.
Sui’s strong night decline coincides with a broader uncertainty in the market, although the strong interest of the buyer arose at support levels around $ 3.40- $ 3.42.
Meanwhile, the Sui community has recovered behind the recovery efforts of the CETUS protocol after its recent trick, with validators overwhelmingly approving a plan to return frozen funds to affected users.
TECHNICAL ANALYSIS
- Sui -usd fell precipitously from $ 3.59 to a minimum of $ 3.38 during midnight time with an extraordinary volume (24.8m), more than triple commercial activity per average hour.
- The general range of $ 0.225 (6.25%) demonstrates a substantial uncertainty of the market, with a price support of $ 3.40- $ 3.42 in high volume, which suggests a strong interest of the buyer at these levels.
- After the acute decrease, SUI has established a recovery pattern, forming an upward channel with resistance around $ 3.50, although the impulse seems to be decreasing as evidenced by the recent rejection of $ 3.48 with a growing sales pressure.
- Price Action formed a descending channel of $ 3.48 to a minimum of $ 3.42, with a notable support that emerges at $ 3.43.
- The volume increased dramatically at 14:00, reaching 545,865 units, almost 4 times the average per hour, coincides with a strong rebound of $ 3.43 to $ 3.44.
- The rejection after $ 3.44 and the recoil at $ 3.43 suggests the formation of a potential pattern attached to the range, with immediate resistance to $ 3.44 and support for $ 3.43, indicating the indecision of the market after the previous acute decrease.
