SUI News Today: Is SUI's $1.65 Level a Sign of Recovery or the Start of a Downturn?
- SUI tests key support at $1.65–$1.71 amid broader crypto market weakness, with historical data showing prior rebounds from this zone. - Technical indicators (RSI 35, negative MACD) highlight bearish momentum, but strong volume at support suggests potential buyer interest. - Ecosystem growth (TVL $1.19B) contrasts with declining user activity (400K daily users), raising questions about short-term sustainability. - Analysts remain divided: some see $1.71 as a bullish retest level, while others warn of a po
Sui (SUI), the primary asset of the
Despite falling 32% since early November, Sui has managed to hold a crucial horizontal support area between $1.65 and $1.71,
Technical experts are paying close attention to the $1.71 mark as a key inflection point. DaanCrypto, a well-known analyst, called it “a vital anchor for preserving structural stability.”
Developments within the Sui ecosystem add further complexity to the situation.
Weekly technical indicators for SUI reveal an RSI near 35 and a negative MACD, both pointing to bearish momentum. These signals highlight the risk of further declines if SUI cannot regain strength above key support levels.
The token’s price remains pressured within a descending triangle that has developed over nearly a year. Immediate resistance is at $1.73, with further barriers at $1.77 and $1.82.
Traders should look for alignment between price movements and trading volume. A recovery above key moving averages (EMA20/EMA50) with increasing volume could indicate renewed buying interest. Conversely,
At the time of the latest update, SUI is trading around $1.59–$1.62, with
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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