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 08, 2024, Sui is trading at approximately 1.0614 USDT. Let’s dive into the detailed price action for SUI-USDT:
| Metric | Value |
|---|---|
| Open (O) | 1.0796 |
| High (H) | 1.0833 |
| Low (L) | 1.0366 |
| Close (C) | 1.0614 |
| Volume (C) | 26,445,495.40 |
- Open (O): The opening price for today’s trading session was approximately 1.0796 USDT.
- High (H): Sui reached a daily high of around 1.0833 USDT.
- Low (L): The daily low for SUI-USDT was approximately 1.0366 USDT.
- Close (C): At the time of analysis, Sui is trading near its daily close of 1.0614 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | -1.69% |
| 3D Change (%) | -3.10% |
| 7D Change (%) | -7.50% |
| 30D Change (%) | -37.93% |
| 90D Change (%) | -30.45% |
| YTD Change (%) | 36.90% |
Over the past three days, SUIUSDT has declined by approximately -3.10%, showcasing increased market volatility. Throughout the last week, it continued to decrease, with a loss of around -7.50%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with SUIUSDT maintaining a downward trend of approximately -37.93%, despite intermittent fluctuations. Examining the last 90 days, SUIUSDT has witnessed substantial decrease of approximately -30.45%, reflecting strong long-term confidence. Year-to-date, SUIUSDT has steadily appreciated by around 36.90%, 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 0.52242.
- Momentum score is -0.15749.
SUI USDT Technical Analysis
Sui Trading Volume:
The trading volume for Sui (SUI) over the past 24 hours has been insignificant, with approximately 26,445,495.40 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 39.97081. 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.
Acknowledge potential headwinds for Sui (SUIUSDT) at 1.06 USDT through bearish technical analysis, featuring weakened support and cautionary indicators.
Dive into the details with our in-depth analysis on SUI BTC Sui Technical Analysis; you won’t want to miss it if you found this post interesting.
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.