SUI Token Falls Below $4 Amid Broader Crypto Market Decline
SUI Price Update
- SUI price fell to $3.57, below the $4 mark.
- 24-hour trading volume: $1.47 billion; market cap: $10.72 billion.
- 15% drop in price over the last 24 hours.
- Global cryptocurrency market cap decreased by 7.7% to $3.33 trillion.
- Crypto Fear and Greed index at 71, indicating investor sentiment for buying the dip.
SUI Ecosystem and Future Outlook
- SUI has 50 million accounts and a Total Value Locked (TVL) of $1.59 billion.
- TVL decreased from $1.75 billion since end of 2024.
- SUI ranks 16th among largest cryptocurrencies by market cap.
- $4 is a crucial support level; failure to reclaim could trigger a sell-off.
- February will see unlocking of 2% of SUI's total supply, increasing circulating supply.
Technical Indicators
- Relative Strength Index (RSI) at 33, indicating possible trend reversal.
- Price below lower Bollinger Band suggests potential undervaluation.
- Analysts predict long-term price targets between $10 and $20.