Suis Price faces a pressure after a lively withdrawal, with a value of $ 3.40, down 3.91% in the last 24 hours. Its market capitalization amounts to $ 11.94 billion, while the 24 -hour negotiation volume dropped by 10.5% to $ 1.62 billion. The token is now more than 36% below its $ 5.35, because traders weigh the technical dynamics and soften ecosystem data.
What does the chain say?
Chain’s performance has been cooled in recent weeks. According to Messari, the average daily volume of Dex sur Sui increased by 21% in quarter to 368 million dollars, but growth was uneven. While platforms like Momentum increased by 8,594% and Flowx Finance is up 1,548%. Cetus, the largest Dex was flat at $ 170.7 million, reporting consolidation at the top.
Meanwhile, the TVL dropped from 11% to 3.4 billion dollars last week, reflecting a reduction in user engagement. On the derivative side, the following open interests plunged 31% of $ 2.66 billion at the end of July to $ 1.84 billion. And long liquidations totaled $ 5.64 million on August 20, referring to the confidence of the shaken trader.
Supply price analysis:
Technically speaking, sui is under pressure after having broken down below its 50 -day mobile average at $ 3.69 and Pivot Point at $ 3.46. In addition, the MacD histogram at -0.0293 confirms the persistent downside.
Successively, the immediate support of the AU price is nearly $ 3.32, with a more crucial level at $ 3.27. A daily fence below $ 3.27 could open the door to an additional drop of 10 to 15%, targeting the range from $ 2.90 to $ 3.00.
Right up, resistance is $ 3.52, followed by $ 3.69 and $ 4.07. The RSI nearly 41 suggests that following the territory of occurrence, but buyers must still organize a convincing defense.
Faq
SU has slipped below the main technical levels in the middle of the TVL fall, reduces open interest in the long term and heavy long liquidations.
The support is $ 3.32 and $ 3.27. The resistance is $ 3.52, then $ 3.69 and $ 4.07.
While RSI shows occurrence conditions, a rebound needs a sustained closure of more than $ 3.52 to confirm the force.
