헤라카지노 【보증업체】 가입코드 이벤트 쿠폰；온라인바카라

레이브카지노 【보증업체】 가입코드 이벤트 쿠폰

Godspower Owie — Sat, 26 Oct 2024 14:30:45 +0000

As SUI dips further into bearish territory, technical indicators are increasingly signaling a challenging path ahead. A key measure, the Relative Strength Index (RSI), has turned negative, suggesting that selling pressure is mounting and that more downside may be on the horizon. With SUI navigating this bearish shift, market participants are keeping a close eye on potential support levels, wondering if the asset can stabilize or if sellers will continue to drive prices lower.

This analysis explores SUI’s recent entry into bearish territory, examining the implications of the RSI’s downward shift and the potential for more price declines. It also seeks to provide insights into the downside risks facing SUI by assessing key technical indicators and support levels, this piece.

Market Overview: SUI’s Shift Into Bearish Territory

On the 4-hour chart, SUI has shown strong bearish momentum, slipping below the 100-day Simple Moving Average (SMA) as it approaches the $1.4 mark printing multiple bearish candlesticks. The 100-day SMA, typically a significant support level, now acts as resistance, signaling a shift in sentiment where sellers have gained the upper hand.

An analysis of the 4-hour Relative Strength Index (RSI) reveals that the indicator has now dropped to a low 23% level after a previous recovery attempt failed to hold at 52%. With the RSI now in the oversold zone, selling activity may be overextended, unless a significant influx of buying interest appears, SUI could remain under pressure, potentially leading to additional drops. Also, on the daily chart, SUI is exhibiting a clear pessimistic path as it trends downward toward the $1.4 mark and approaches the 100-day SMA. The $1.4 level, alongside the 100-day SMA, acts as a crucial support area, and a break below these points could reinforce the current downtrend, potentially opening the door to further declines.

Lastly, the daily RSI for SUI has dropped to 42%, significantly falling below the critical 50% threshold, which usually separates bullish from bearish territory. Typically, this decline highlights the strong bearish momentum, indicating that sellers are firmly in control and reflecting increasing pessimism about SUI’s price.

Potential Price Targets: How Low Could SUI Go?

As SUI continues its negative movement, traders need to pinpoint potential price targets. If the $1.4 support level is breached, SUI could fall to $1.23, where buying interest may resurface. An extended drop below this level could trigger a deeper correction toward other support levels.

Conversely, should the cryptocurrency manage to hold its position above $1.4, it could indicate a potential reversal, enabling bulls to reclaim some control in the market thereby driving the price higher toward the $2.1 resistance level and beyond.

토토사이트 라스벳；카지노, 카지노사이트

Rubmar Garcia — Wed, 23 Oct 2024 12:00:47 +0000

SUI, the native token of the Sui Network, has seen a 13% pullback in the past seven days, halting its bullish rally. The cryptocurrency broke from a 1-month structure, fueling a bearish sentiment among market watchers, who foresee further downside for the token.

SUI Loses Key Support Zone

SUI has been on a downtrend this week, losing the recently gained levels alongside most of the market. The cryptocurrency saw a 5.3% drop in the last 24 hours, which has worried some investors and crypto analysts.

The token registered one of the best performances during Q3, leading the market as one of the few altcoins registering green numbers in most timeframes. SUI started the month by recording a 15% weekly surge, which fueled its rally toward its new all-time high (ATH).

Additionally, the token jumped 25% from its monthly opening, shooting past the $2 barrier to reach a new ETH of $2.35. However, its bullish rally was overshadowed by insider selling allegations on October 13.

Market expert LightCrypto alleged that SUI’s performance would be affected by insiders�?continuous selling, who had unloaded $400 million in SUI tokens.

Following the allegations, the cryptocurrency faced a 15% daily correction but remained above the crucial $2 support level. Since then, the cryptocurrency has moved sideways, hovering between the $2-$2.15 price range until today. On Tuesday morning, SUI lost the $2 support, plunging 6.5% toward the $1.87 mark before recovering the $1.90 zone. The token’s dip represented a 13% decline from its price seven days ago and an 18.4% drop from its ATH.

Is A 30% Pullback Looming?

Following SUI’s recent price action, some crypto analysts revealed that another pullback seems to be looming. Crypto analyst Altcoin Sherpa weighed in on the markets�?current performance, as it slowed down after Bitcoin’s surge to $69,000 on Sunday.

Sherpa considers the market’s rally momentarily paused, highlighting that “most alts are either pulling back or consolidating.�?To him, the tokens that recorded a strong run in September, including Bittensor (TAO) and SUI, have “a bit more pullback to go�?before resuming their rally.

The analyst forecasted a 25% to 30% correction toward the $1.4 support zone or lower, detailing that there will probably be “plenty of bounces�?along the way. Similarly, crypto investor Doji noted that the cryptocurrency broke “a massive 1-month stricture to the downside.�?/p>

The investor revealed that the token dropped below the lower trendline of a broadening wedge pattern on its 1-month chart. Doji suggested that SUI will retest the pattern before dropping lower toward the lower liquidity spot at $1.4. Nonetheless, he expects “to see the middle of the macro range at some point.�?/p> Despite the drop, SUI registers a 30.7% surge in the monthly timeframe, trading at $1.92 at the time of writing.

원타임카지노 【보증업체】 가입코드 이벤트 쿠폰

Christian Encila — Thu, 17 Oct 2024 01:00:49 +0000

SUI has lately attracted a lot of interest and peaked in its development. It finished the week at its all-time high price of $2.30 and ranked higher than top altcoins such as Polkadot (DOT), therefore ranking itself among the top 15 cryptocurrencies. Among those who support SUI, this achievement has inspired hope since they believe it will become a major competitor in the market.

DeFi noted SUI’s price surge and $1 billion Total Value Locked (TVL). The coin ranks higher than Avalanche (AVAX) and Polygon (MATIC). Investors are noting SUI’s growing position in the DeFi market, with SUI projections showing a continuous positive trend and a whopping 240% increase over the next three months,

$SUI passes $DOT. Congrats to those that listened to me. pic.twitter.com/FtU5vk8f8M

�?MartyParty (@martypartymusic) October 13, 2024

At the time of writing, SUI was trading at $2.04, down 4.3% in the last 24 hours, but sustained an 8.7% in the last seven days, data from Coingecko shows.

Valuation Inquiries Arise

The rapid rise of SUI has evoked excitement among many but it has also raised doubts. In fact, some analysts are questioning whether there is a justification in the prevailing market capitalization of the token to its real fundamentals. The rising value has sparked a debate because people are trying to measure SUI’s market capitalization in order to come up with underlying problems. Such an occurrence is not unusual for coins and even tokens on the rapid expansion corner; however, it also tends to instill some doubts into potential buyers.

Insider selling is another worry. Significant transactions from a foundation wallet during the token’s recent rise have raised questions about its price sustainability. Divesting during a price spike may indicate insider insecurity, making investors doubt long-term prospects.

Comparison Of Fully Diluted Valuation

The complexity of SUI’s current condition is exacerbated by its Fully Diluted Valuation. The FDV of SUI is $1.2 billion, far lower than Solana’s $4.7 billion. Several market experts claim that Solana could be mispriced because the fully diluted valuation of Solana is less than one-third that of Ethereum. This has led some to conclude that SUI is overvalued at this time. Such a comparison also raises the issue of possible mispricing in the market, which makes it necessary for investors to weigh the pros and cons before getting involved. At present, there is a competition among various cryptocurrencies and knowing the valuation of such projects relative to other tokens makes one comprehend better each of the tokens. What’s Next For SUI? Despite the concerns, SUI’s pictured development in the near future is optimistic. The examination of the movement of prices points out that an upward trend will occur since the estimates show that there will be a substantial increase in the market size in a few months. In the coming three months, the price of SUI is expected to shoot up by 244%, which attracts many hopeful investors. It is advisable for the investors to be careful. Considering the high volume of insider sales and concerns on valuations, the future might not be so rosy as it has been projected. Keeping track of market dynamics and technical analysis will be very important for addressing the risk that comes with the rapid rise of SUI.

Featured image from Boxmining, chart from TradingView

온라인카지노；카지노사이트, 바카라사이트；카지노사이트킴

Ronaldo Marquez — Tue, 15 Oct 2024 11:00:34 +0000

Layer 1 blockchain protocol Sui (SUI) has made headlines recently, recording an impressive 120% increase over the past 30 days, allowing the protocol’s native token SUI to outperform the top 10 largest cryptocurrencies on the market, culminating in a new all-time high of $2.35 on October 13.

However, since this peak, the token has retreated by nearly 5%, largely due to growing concerns over allegations of insider selling among the project’s stakeholders.

Can SUI Match Solana’s Success?

Market expert LightCrypto took to social media platform X (formerly Twitter) on Sunday to express his skepticism about the sustainability of SUI’s recent gains. In a lengthy post, he noted SUI’s substantial rise, which has quintupled from its previous lows of $0.5 on August 5, amid the broader market crash that occurred that day.

While the market appears to be eager for new winners, with macroeconomic conditions pointing to further price gains, LightCrypto raised two critical points that could undermine SUI’s upward trajectory.

Firstly, the expert questioned the rationale behind SUI’s current $23 billion fully diluted valuation (FDV), particularly when compared to Solana’s $73 billion according to Coingecko data.

LightCrypto argued that it no longer makes sense to assume SUI can replicate Solana’s success, especially given that it currently trades at just a quarter of Solana’s market valuation. The expert further challenged the community to articulate a compelling risk-reward scenario that justifies such a disparity, asking whether SUI has demonstrated even a fraction of Solana’s potential.

Potential Market Correction Looms

Secondly, LightCrypto alleged the worrying trend of insider selling, indicating that insiders, including what is believed to be a large endowment fund, have dumped around $400 million in tokens during the recent rally.

The expert noted that this selling trend has not only occurred at higher price levels, but has also been ongoing since much lower valuations.

Ultimately, LightCrypto believes that the acceleration of these sales may create a disconcerting atmosphere for retail investors, who may be buying tokens from those best informed about their true value.

The implication is stark: as these supposed insiders cash out while retail investors chase momentum, the potential for a market correction looms large, potentially threatening the token’s current rally.

Despite these allegations, SUI, currently trading at $2.24, continues to see significant investor interest in the token, with trading volume up 36% in Sunday’s session, valued at approximately $1.7 billion.

Furthermore, regardless of LightCrypto’s troubling findings, corrections are normal after a token hits a new record high, with the clear example of Bitcoin (BTC), which has been unable to come close to that level since hitting a new record high of $73,7000.

What is certain is that if the expert’s claims prove to be true, it could further exacerbate a potential correction in the SUI price, with the first major support level for bulls being the $2.046 area. Featured image from DALL-E, chart from TradingView.com

카지노 정보 ；온라인 카지노 사이트

Scott Matherson — Sat, 12 Oct 2024 23:30:10 +0000

Sui (SUI) could witness a bullish breakout soon enough, with crypto traders betting on the crypto climbing above $2. SUI’s fundamentals also paint a bullish picture for the crypto and indicate that it could be one of the best performers in this market cycle.

SUI Eyes Breakout With Traders Going Long

SUI could be on the verge of a breakout, with traders betting that the crypto will rise higher. Coinglass data shows that the long/short ratio is currently at 1.3, with 56.65% of traders opening long positions on SUI compared to 43.35% of traders with short positions. Trading volume for SUI’s derivatives has surged by over 33%, indicating that these traders are very confident about the crypto rising higher.

Meanwhile, open interest is also up by over 14%, further confirming the massive attention that SUI is currently gaining. These long traders already look to have the upper hand, seeing how the short terms have witnessed more liquidations. Further data from Coinglass shows that $5.14 million in short positions have been liquidated in the last 24 hours compared to $1.58 million in long positions.

This is bullish for the SUI price as the breakout could easily be achieved as more short traders get shaken out of their positions. Moreover, the coin has been rallying for a while, and its fundamentals and technical analysis suggest that this upward trend could continue. SUI has already rallied over 100% in the last month, breaking into the top 20 crypto ranking in the process.

Fundamentals that support a further price rally for the coin include the surging decentralized finance (DeFi) activity on the Sui network. DeFiLlama data shows that decentralized exchange (DEX) volume on the network has shot up over 50% this last week. The network’s Total Value Locked (TVL) is also rising, as it recently crossed the $1 billion mark.

A Price Breakout To $2.50

Crypto expert Michael Van De Poppe predicted that the SUI price could rise to as high as $2.50 soon enough. He noted that the coin achieved a strong bounce at the $1.79 price level. In line with this, he expects the price to continue towards new highs, potentially reaching between $2.20 and $2.50.

A rally to this price range is significant as it will mark a new all-time high (ATH) for the SUI price, whose current ATH is $2.18. Meanwhile, crypto analyst The Cryptomist indicated that the coin’s weekly close is likely to determine its next move. She claimed a break above $1.91 would lead to price discovery.

At the time of writing, SUI is trading at around $2, up over 11% in the last 24 hours, according to data from CoinMarketCap.

Featured image from Pexels, chart from TradingView

에볼루션 판탄 (FAN TAN) 따라가기；판탄 시스템 마틴 배당

Christian Encila — Fri, 11 Oct 2024 11:30:52 +0000

Over the past 30 days Sui [SUI] has been on a roll, tripling its market capitalization and showing outstanding growth. Over 100% increase in value drove the token’s market capitalization above $5 billion. But as is always the case with cryptocurrencies, what rises must fall at least momentarily.

The coin’s surge is exhibiting indications of stalling after weeks of increasing momentum. Traders are now closely observing what can happen next for this once-red-hot asset. According to crypto price prediction site CoinCheckup, SUI is selling 220% below its expected price for next month, suggesting a possible undervaluation.

Price Slips And Declining Market Activity

SUI was trading at $1.84 at press time after losing 5% of its value within only 24 hours. Based on CoinMarketCap, trading volumes have likewise dropped by 4%. This decline in activity suggests, at least for the time being, a decreasing interest in the token.

The technical signs hardly seem much better. Tracking money flow into and out of an asset, the Chaikin Money Flow (CMF) has also been on a downward slope in the last seven days. This is an indication that money is fleeing SUI, usually leading to issues for price stability. Moreover, the CMF has entered negative territory, suggesting that purchasing interest is currently subordinated to selling pressure.

SUI: Slowing Momentum But Potential Bounce

The token started to sell off as its Relative Strength Index (RSI) dropped below a key signal line, indicating declining momentum. Still, there is a positive aspect here. Should the RSI show a positive turn once more, it may indicate a buying chance for those who think SUI has long-term promise.

If selling keeps on, analysts say SUI might test support at $1.70; this might not be a negative outcome. Strong support levels draw buyers who see value at lower levels, thereby acting as a basis for the price to increase once again. SUI will have to barrel its way past the resistance at $2, a fundamental psychological and technical barrier, if it is to break out from its present downturn.

Cooling Interest Meanwhile, SUI, which has lately been seeing explosive growth, also seem to be cooling off. From an all-time high of $560 million to $450 million, open interest declined 10% over the past 24 hours. This implies that traders are closing positions as excitement declines, thus helping to explain the general sell pressure on the coin. Some traders would see the drop in open interest as a sign of opportunity even with this cooling off. Prices falling always mean that buyers will re-enter the market, particularly if they feel SUI is underpriced.

SUI still has promise long term. Over the following three months, analysts project a possible 240% price rise; over the next year, a 160% increase. For SUI, especially with a long-term perspective, the future appears bright even if the road ahead could be rocky.

Featured image from ThoughtCo, chart from TradingView

아톰카지노 이벤트 쿠폰 지급률 1위；메이저 카지노사이트

Godspower Owie — Wed, 09 Oct 2024 18:30:37 +0000

SUI is experiencing a notable pullback after its recent rally, with multiple key support levels coming into focus. As the price edges lower, these areas will play a pivotal role in determining whether the asset can regain its bullish momentum. A strong defense of these supports could signal the start of a fresh upward move, while a failure to hold may lead to deeper declines.

This article aims to assess SUI’s recent price pullback and explore critical support levels that could trigger a potential bullish reversal. By analyzing technical indicators and market conditions, it seeks to provide insights into possible recovery scenarios, highlighting the levels to watch for a sustained upward movement or further downside risk.

Recent Price Action: SUI’s Decline Explained

Recently, SUI’s price has taken a bearish turn on the 4-hour chart, following a rejection at the $2.1 resistance level. Despite this decline, the cryptocurrency remains above the 100-day Simple Moving Average (SMA), indicating that a recovery may be possible, provided buyers regain control and the market shifts back in favor of the bulls.

An analysis of the 4-hour Relative Strength Index (RSI) suggests that bulls could be preparing for a resurgence. Although the RSI has slipped to 55% from the overbought zone, it remains above the crucial 50% mark, indicating that bullish momentum persists. This positioning reflects a temporary slowdown, but as long as the RSI holds above this threshold, the market retains the potential for renewed upward movement.

Also, on the daily chart, SUI is exhibiting signs of negative pressure, trading above the 100-day SMA. While the price remains above the SMA, this current bearish movement could be short-lived, as there remains a possibility for a price recovery. The positioning above the SMA implies that buyers could step in to reverse the trend if they regain control, potentially leading to a rebound in price. Finally, on the 1-day chart, a closer examination of the RSI formation indicates that SUI’s price may experience further declines, as the signal line has descended to 69% from the overbought territory. However, there is the possibility of a bullish comeback if the RSI can maintain its position above the 50% threshold.

Key Support Levels: Where Could SUI Buyers Step In?

SUI is approaching critical support levels that could attract buyers and trigger a recovery. The initial key level to monitor is the $1.4 support zone, which could serve as a critical point for renewed bullish interest.

Should buyers step in at this level, SUI might rebound toward the $2.1 resistance mark. A successful breakout above this resistance could pave the way for the formation of a new all-time high, signaling a strong resurgence.

However, if the $1.4 support level fails, the next critical area to watch is around the $1.1 mark, where a stronger base of support could form as the price continues to decline. Maintaining these levels is crucial since it will determine whether SUI can regain upward momentum or remain vulnerable to more bearish pressure.

쿨카지노 【보증업체】 가입코드 이벤트 쿠폰；온라인바카라

Samuel Edyme — Wed, 09 Oct 2024 12:00:34 +0000

SUI has been one of the few assets that appears to be having a lone bull run despite the struggle of certain cryptocurrencies in the market to reclaim their major highs.

Over the past month alone, SUI has increased by more than 100%, with its 7-day performance still seeing green up by 11.8% after nearly touching its all-time high of $2.17 yesterday with a 24-hour high of $2.13.

Although the asset is currently facing a price decline down by 4.3% in the past 24 hours with a current trading price of $1.99, a prominent crypto analyst known as CryptoBullet has taken to his X account to address investors on whether now is the best time to sell SUI.

Should You Sell Your SUI Now?

While it may seem tempting for some to sell during this price dip, CryptoBullet suggests otherwise. The analyst noted, “I know it might be tempting to sell SUI here, but it’s the wrong timing imo [in my opinion].”

The analyst explained that the crypto is experiencing its fourth test of the $2 level, a key technical point, adding that “the more times a level is tested, the more likely it is to break.” CryptoBullet believes this could indicate a bullish breakout, pointing to the formation of a Cup and Handle pattern.

Additionally, CryptoBullet highlighted some of SUI’s achievements that could further propel its bullish case. These include a market cap that nearly reached $6 billion, a transaction per second (TPS) rate exceeding 1,000 for the past three days, and SUI ranking as the second-largest non-EVM chain by total value locked (TVL) at $1.08 billion.

Strong Growth Ahead For Ecosystem?

Another crypto analyst known as ‘Easy’ on X echoed CryptoBullet’s optimism, comparing SUI’s potential to Solana’s meteoric rise in 2021. According to the analyst, “Sleeping on SUI is like sleeping on SOL in 2021.”

He emphasized that SUI’s metrics, including TVL and trading volume, are showing strong growth, which could indicate that the crypto is poised for a significant bull run.

The analyst also noted the rise of memecoins on the network, with some tokens seeing a minimum 250% increase in value over the last 24 hours.

Sleeping on SUI, is like sleeping on SOL in 2021. SUI is going to dominate the entire bull run. All metrics are pointing to massive growth on the SUI ecosystem From TVL to Volume, it is gaining a level of traction that is unprecedented when compared to other blockchains.
The�?pic.twitter.com/VfZ7DVZ1dz

�?Easy (@EasyEatsBodega) October 7, 2024

It is easily concluded by expressing confidence in SUI’s future growth, suggesting that the current price could be a “steal” for long-term investors. He revealed plans to accumulate more SUI on market dips, setting an ambitious price target of $10 for the asset.

Featured image created with DALL-E, Chart from TradingView

파워볼 사이트；【토토사이트】스포츠토토

Jake Simmons — Tue, 08 Oct 2024 18:30:08 +0000

Layer-1 chain Sui (SUI) has been capturing significant attention lately. As of this writing, SUI has surged by 125% over the past 30 days and has skyrocketed 345% from its yearly low of $0.46 on August 5. These impressive figures position SUI among the top performers in the crypto market over the last two months and as one of the few altcoins which reached their all-time high.

SUI Vs. Solana

Yesterday, the buzz intensified when several accounts on X shared charts suggesting that SUI had overtaken Solana in daily transactions for the first time. Enthusiasts quickly touted SUI as the next “Layer-1 killer,” poised to surpass Solana, which has been a leading contender among Layer-1 blockchains behind Ethereum.

However, this claim faced scrutiny from industry experts. Developer João Mendonça took to X to rebut the assertions, stating: “SUI did not surpass Solana in daily transactions �?there’s no free lunch. On the left = a deceptive chart where each instruction of each transaction is counted as a transaction on SUI. On the right = Artemis’s genuine read of daily transactions.”

Mendonça referenced a detailed explanation by analytics firm Artemis from May. The firm highlighted that in traditional Ethereum Virtual Machine (EVM) architectures, users submit transactions that execute a set of instructions. In contrast, on the SUI blockchain, users submit a transaction block containing multiple transactions that update objects in the global state. Therefore, comparing transaction counts directly between SUI and other chains like Solana can be deceptive. They explained: “Artemis decided to count Sui transaction blocks instead of transactions when comparing activity with Ethereum and other chains. This decision was based on the fact that Sui has a different architecture than the EVM, and counting transaction blocks gives a more accurate picture of user interactions.”

Prominent crypto analyst VirtualBacon also weighed in on the discourse, analyzing the SUI/SOL price chart. He remarked: “SUI vs SOL ratio almost at resistance. One must question the upside potential of this ‘new killer L1�? For this to keep running another month, it either completely takes over the market share of Solana, or we rotate back to the proven chain.”

Expressing skepticism about SUI’s ability to maintain its momentum against Solana’s price, he added: “Somehow people in comments believe they’re still early to $SUI at ATH and 20B FDV. It’s nowhere close to Solana level adoption imo.”

Crypto analyst Michaël van de Poppe also casted doubts that the SUI price can run above the all-time high immediately. Via X, he wrote today: “SUI did run away and printed a new all-time high. The first one! Didn’t allow me to enter, but it might be topped for now. Looking at the same region or $1.85 for entry zones. Massive runner.�?/p>

Despite the debates, SUI has undeniably been gaining traction. In September, Raoul Pal, founder and CEO of Global Macro Investor and RealVision, lauded SUI as a “groundbreaking ultra-fast L1, super efficient, full blockchain ecosystem”. He emphasized that SUI, developed from the remnants of Meta’s Diem project, is designed to scale for billions of users transitioning from Web2 to Web3 technologies. Pal’s endorsement amplified interest in SUI within the crypto community.

Adding to its growing ecosystem, Circle—the company behind USDC, the world’s second-largest stablecoin by market capitalization—announced in September that the Sui network would support USDC. This integration is expected to enhance liquidity and utility on the Sui blockchain, potentially attracting more developers and users.

Most recently, on Monday, crypto exchange Bybit announced support for SUI on its Launchpool platform. This move makes SUI only the second chain available on the service after Mantle (MNT), providing users with new opportunities to earn rewards and participate in the Sui ecosystem.

At press time, SUI traded at $2.01.

바카라 팔레이 배팅법；바카라사이트, 카지노；카지노사이트킴

Sebastian Villafuerte — Sat, 05 Oct 2024 14:30:47 +0000

SUI is currently testing a crucial supply zone following a massive 95% surge triggered by the Federal Reserve’s recent interest rate cut announcement. The explosive rally, driven by significant buying pressure, has led to volatile price action, raising questions about whether this upward momentum can be sustained. As SUI hovers near its current highs, market speculation is increasing around the possibility of a correction to lower demand levels, with $1.40 being the key target. Key data from Coinglass reveals a decline in market demand, signaling a potential slowdown in buying activity. This has left some investors on edge, as they anticipate a price drop in the coming days. The sudden surge has fueled both optimism and caution as traders weigh the potential for continued gains against the risk of a sharp reversal. With SUI now at a critical juncture, the next few days will be pivotal in determining whether the bullish trend can continue or if the market will retrace to more stable demand levels. Investors are watching closely, ready to adjust their strategies based on the unfolding price action.

SUI Funding Rate Signals Price Drop

SUI is at a critical point after days of extreme price action and significant gains. Following its impressive 95% rally since the Federal Reserve’s interest rate cut announcement, some investors and traders are beginning to take profits, signaling a potential shift in market sentiment. Many now view a correction to $1.40 as inevitable, especially as buying pressure cools down.

Key data from Coinglass suggests a cooling demand, with the funding rate turning negative to -0.067, marking a yearly low. The funding rate is a key indicator in futures trading, representing the periodic payment between traders in long positions (betting on price increases) and those in short positions (betting on price declines).

When an asset’s funding rate turns negative, it indicates that more traders are opening short positions, expecting a drop in price. This shift reflects growing caution in the market as traders start positioning themselves for a potential downturn. With the funding rate at such a low and demand waning, the market is showing signs of cooling off after SUI’s explosive September rally. As a result, investors and traders are now patiently waiting for a correction to lower demand levels around $1.40, which could present new buying opportunities or signal further declines depending on the broader market conditions.

Key Levels To Watch

SUI is currently trading at $1.73 after experiencing days of volatile price action. The price surged but halted at the crucial $2 resistance level and has since entered a consolidation phase just below it. This key level has become a barrier for bulls, and a push above $2 is necessary for SUI to regain momentum and confirm a bullish trend. However, the market remains uncertain, and if the price fails to hold the $1.60 support level, a deeper correction could follow. Analysts predict that a break below $1.60 may lead to a 20% drop, bringing SUI down to the $1.40 demand zone. This level is being closely monitored by investors and traders as a critical support to prevent further downside pressure. As the market fluctuates, SUI’s price action remains in a delicate balance between potential recovery and further correction. The next moves around these key levels will likely determine whether bulls regain control or if bears continue to push prices lower in the coming days.

Featured image from Dall-E, chart from TradingView