SUI Price Drops 10% Amid Market Sell-Off but Shows Recovery Potential
SUI Price Update
- SUI, the cryptocurrency of the Sui blockchain, has fallen 10% to $4.38 amid market sell-off.
- Daily trading volume increased by 82% to $1.63 billion with over $10 million in liquidations, primarily in long positions.
- Despite recent price drops, SUI's funding rate remains positive, indicating trader optimism for recovery and potential all-time high.
- The Relative Strength Index (RSI) is above 50, suggesting consistent buying pressure, enhancing chances for a price reversal.
- SUI experienced strong inflows, ranking just behind Solana in the last 24 hours.
- The current support level is $4.35; if this holds, it could rally towards $5.36, the previous all-time high.
- A drop below $4.35 could trigger bearish sentiment and further declines.
Source: TradingView