In this Sui technical analysis, we will examine the current price action, trading volume, key levels and indicators for SUI-USDT. Sui is a decentralized blockchain platform that enables developers to build scalable and interoperable applications. It utilizes a novel consensus algorithm called “Proof of Service” which incentivizes participants to contribute value to the network. With its focus on usability, security, and sustainability, Sui aims to empower a new generation of web3 developers and users.
Sui Price Overview:
As of May 14, 2024, Sui is trading at approximately 0.9141 USDT. Let’s dive into the detailed price action for SUI-USDT:
| Metric | Value |
|---|---|
| Open (O) | 0.9695 |
| High (H) | 0.9765 |
| Low (L) | 0.903 |
| Close (C) | 0.9141 |
| Volume (C) | 26,137,616.10 |
- Open (O): The opening price for today’s trading session was approximately 0.9695 USDT.
- High (H): Sui reached a daily high of around 0.9765 USDT.
- Low (L): The daily low for SUI-USDT was approximately 0.903 USDT.
- Close (C): At the time of analysis, Sui is trading near its daily close of 0.9141 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | -5.72% |
| 3D Change (%) | -8.08% |
| 7D Change (%) | -15.34% |
| 30D Change (%) | -23.73% |
| 90D Change (%) | -52.03% |
| YTD Change (%) | 17.90% |
Over the past three days, SUIUSDT has decreased by approximately -8.08%, showcasing increased market volatility. Throughout the last week, it continued to decline, with a loss of around -15.34%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with SUIUSDT maintaining a downward trend of approximately -23.73%, despite intermittent fluctuations. Examining the last 90 days, SUIUSDT has witnessed substantial drop of approximately -52.03%, reflecting strong long-term confidence. Year-to-date, SUIUSDT has steadily increased by around 17.90%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
Sui Live Chart:
You can access a live price chart for SUI-USDT on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.40117.
- Momentum score is -0.31079.
SUI USDT Technical Analysis
Sui Trading Volume:
The trading volume for Sui (SUI) over the past 24 hours has been insignificant, with approximately 26,137,616.10 USDT traded against SUI. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): SUI is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): Sui is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for SUI-USDT is currently in the low zone, around 36.49583. This suggests that Sui is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
Sui (SUI-USDT) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the low RSI and insignificant trading volume are low signals for potential downward movement.
Anticipate potential setbacks for Sui (SUIUSDT) at 9.14e-01 USDT through bearish technical analysis, emphasizing weakened support and cautionary indicators.
For a deeper dive into the subject, don’t miss our comprehensive analysis on SUI BTC Sui Technical Analysis if you found this post intriguing.
Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.