SUI folded at 9.25% of $ 3.72 to $ 3.38, more selling during midnight UTC hours in volume 78% higher than the daily average
Recent correction is produced in the midst of broader geopolitical tensions that affect cryptocurrency markets worldwide.
While Bitcoin has shown resilience over critical resistance areas, Sui has faced descending pressure despite the strong foundations.
The exploit of the CETUS protocol that resulted in $ 223 million in stolen assets (with freezing $ 162 million) has created uncertainty, although the SUI community seems to be ready to approve a recovery plan with 71% of the validators that already vote “yes” to return frozen funds.
Technical analysis breakdown
- SUI-USD fell from a maximum of $ 3,728 to a minimum of $ 3,383, which represents a 9.25%correction.
- There was a stronger sales pressure during midnight hour (00:00) with a price drop of 4.0% in a volume 78% higher than the average.
- Strong resistance established at a level of $ 3.55.
- Visible recovery attempts at $ 3.42 with average volume over average during the period 01: 00-02: 00.
- Lower highs that form a line of descending trend, indicating continuous bearish pressure.
- Flash Crash occurred between 09: 37-09: 38, with a price that collapsed from $ 3.45 to $ 3.40.
- Extraordinary volume of 4.3 million units registered during the flash block.
- An investment pattern was formed in the form of V, claiming approximately 60% of losses.
- Price stabilization around $ 3.43- $ 3.44 Range.
- Key support at $ 3.40 showing a substantial purchase interest in multiple deadlines.
- New resistance was formed to $ 3.45- $ 3.46, creating a consolidation range. The decrease in sales pressure suggests a potential stabilization in the short term.
