Sui
It experienced a turbulent 24-hour trading window, which marked a sharp intraday volatility and heavier than usual trading activity. After initially falling to $2.71, the token held a brief rally at $2.92 and then encountered strong resistance, close to $2.82. The area restricted recovery, triggering a rapid reversal, dragging the price back to the area of $2.78-2.79.
The move is even more striking with the accompanying surge in 24-hour trading volume, 11% above the average 30-day average. This level of participation expands volatility, and the fast moving price fluctuations expose both the bulls and bears to the whip-up action. The rejection from $2.82 and the failed attempt to retake the level set the stage for a more cautious deal in the short term.
The area that supports about $2.72 to $2.75 proved to be durable, with prices bounced several times. As volume cooling and mergers tighten, SUI may enter a waiting period as traders reevaluate short-term direction after breakout failed and unusually active meetings.
Technical analysis highlight
- In the 24-hour window, Sui trades between $2.919 and $2.710.
- Heavy sales were sold at 08:00 as the price dropped from $2.878 to $2.765.
- A rebound around 18:00 attempt to push SUI up 1.5% to $1.4 million at $2.824.
- The rally was immediately reversed, with prices falling to $2.784 and a boycott was confirmed close to $2.82.
- Despite multiple tests and merges throughout the conference, it will still support close to $2.72–$2.75.
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