1 #SUI has caused more short liquidations in the last 24 hours.

The volume of the 2 SUI coin is constantly decreasing.

SUI coin is a decentralized layer 1 blockchain designed from scratch. It promotes formability by treating the object as a first-class citizen. The coin was created by Sui emanates at the Mysten laboratory. The coin appeared with its ICO in 2023.

Sui has launched SUI Mainnet, a decentralized, permissionless network built to support web3 for billions of users. SUI has its own programming language known as SUI Move. It is necessary to learn the language in order to make improvements on SUI.

The market value of SUI coin has increased by 1.64% in the last 24 hours, but the volume has fallen. The current volume/market capitalization ratio of the coin is 11.98%. This shows the amount of crypto traded within the overall market capitalization. The SUI has a total supply of 10.0 billion SUI, and the circulating supply is 791.77 million SUI.

SUI Token Price Technical Analysis

Will SUI Explode to Higher Levels And Increase Its Dominance?

SUIUSD :

The price is constantly falling after a downward trend from high levels. The price of the coin is currently undergoing consolidation and instability is making candles.

The SUI coin price is trading below the 50-day EMA. The coin's RSI is also trading below the 50 level. This shows the serious weakness in the price of the coin.

SUI Derivative Volume Analysis

Will SUI Explode to Higher Levels And Increase Its Dominance?

Source: Coinglass

The crypto does not show a significant change in the derivative volume of the crypto. The volume of the coin increased by +3.70%, and open positions also increased by 7.17%. Crypto showed a large volume of activity in August 2023, since then there has been no major progress in the volume of crypto.

Solution

SUI recently launched Mainnet, but there is no significant change in the coin's price. SUI is also following a downward trend in the charts. The EMA and RSI are also negative on the charts.

Therefore, the price of the cryptocurrency is expected to fall to lower levels in the coming days, as long as it does not rise above the $ 0.6230 level.

Technical Levels

Support levels for SUI Coin: $0,400 and $0,350

Resistance levels for SUI Coin: $0.6230 and $0.8910 #crypto2023 #Binance #ETH