1 week ago
SUI plummeted 9.25% from $3.72 to $3.38, with heaviest selling during midnight hours UTC connected measurement 78% higher than regular average
The caller correction comes amid broader geopolitical tensions affecting cryptocurrency markets globally.
While Bitcoin has shown resilience supra captious absorption zones, SUI has faced downward unit contempt beardown fundamentals.
The Cetus Protocol exploit that resulted successful $223 cardinal successful stolen assets (with $162 cardinal frozen) has created uncertainty, though the Sui assemblage appears poised to o.k. a betterment program with 71% of validators already voting "yes" to instrumentality the frozen funds.
Technical Analysis Breakdown
- SUI-USD dropped from a precocious of $3.728 to a debased of $3.383, representing a 9.25% correction.
- Strongest selling unit occurred during the midnight hr (00:00) with 4.0% terms driblet connected 78% higher-than-average volume.
- Strong absorption established astatine $3.55 level.
- Recovery attempts disposable astatine $3.42 enactment with above-average measurement during 01:00-02:00 period.
- Lower highs forming a descending trendline, indicating continued bearish pressure.
- Flash clang occurred betwixt 09:37-09:38, with terms plummeting from $3.45 to $3.40.
- Extraordinary measurement of 4.3 cardinal units recorded during the flash crash.
- V-shaped reversal signifier formed, reclaiming astir 60% of losses.
- Price stabilization astir $3.43-$3.44 range.
- Key enactment astatine $3.40 showing important buying involvement crossed aggregate timeframes.
- New absorption formed astatine $3.45-$3.46, creating a consolidation range. Diminishing selling unit suggests imaginable near-term stabilization.
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