Fundamental Analysis:
SUI:
Mysten Labs is the one behind Sui development.
Mysten Labs is led by CEO Evan Chang, chief technology officer Sam Blackshear, chief product officer Adeniyi Abiodun and chief scientist George Danezis.
Sui is a once of the dusted project of Facebook. Japanese philosophy says sui means water, i.e., fluidity (adapt to any situation and expand when demands).
$SUI uses MOVE language as a core development language.
SUI is layer 1 blockchain, focus mainly on Dapp's development with low transaction fee. It underscores issues of $ETH scalability.
Notable Features - Horizontal scalability and storage process, sub-second finality.
Sui’s “horizontal scaling” is achieved through a process called “transaction parallelization,” allowing “parallel agreement” across different, independent types of transactions.
Investors:
Coinbase Ventures, Jump Crypto, Andreessen Horowitz’s a16z, Circle Ventures, Binance Labs and O’Leary Ventures.
Technical Analysis:
Currently, Sui is near all-time low which is $0.4174 of trading cycle (starts from initial trading day).
Weekly timeframe:
Support: $0.4174
Resistance: $0.5080
View: Start accumulating at current market price for investor.
The Sell volume is decreasing, for few days accumulation of sui will take place. During that time sui will be trading in rangebound of mention support and Resistance level.
If it breaks $0.5080 in weekly time frame, there will be super bullish in the short term.
Traders:
For intraday or swing trader - wait for $0.5080 level to break with huge green candle.
I will notify you when it is crossed. Simply, place an alert in binance.
Fundamental analysis which I provided above was taken from different sources. Thank you!
Cover Image of post is taken from freepik.