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SUI / TetherUS

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SUIUSDT trade ideas

SUI Drops 6% But Bulls Are Fighting to Beat the Negative Trend BINANCE:SUIUSDT is attempting to break above a short-term negative trend line on its 4-hour chart. However, bears are exerting a lot of sell pressure on the altcoin, as evident by the wick present on the current 4-hour candle. As a result, SUI is resting on the key support level at $1.2270. Should the SUI price manage to break above this trend line, it could look to enter into a brief consolidation period between $1.2270 and $1.3700. During this time, traders will either drag the altcoin’s price down further or bulls will begin to buy back into the crypto. A potential confirmation of a bullish move will be if the SUI price breaks above $1.370 to signal a long entry. In this scenario, the altcoin may rise to the $1.4995 resistance level in the following 24-48 hours. On the other hand, a drop below $1.2270 may trigger a short entry. This bearish scenario may lead to SUI falling to the subsequent support level at $1.0685 in the following couple of days. Sellers Still Have the Advantage Technicals on SUI’s 4-hour chart suggest that sellers have the upper hand against buyers. Both the Moving Average Convergence DIvergence (MACD) and the Relative Strength Index (RSI) are flagging bearish. The MACD line is breaking away below the MACD Signal line, which could be an indication of SUI’s bearish trend continuing in the next 24 hours. In addition to this, the RSI is breaking away below its Simple Moving Average (SMA). Traders generally take this as a sign that sellers have an advantage over buyers and that sellers are growing stronger. Nevertheless, the RSI could soon enter into oversold territory, which may be seen as a buy opportunity.
by StevenWalgenbach
Will Sui Continue its Upward Trend? Over the past week, NYSE:SUI has surged by 100%, reaching a yearly high of $1.45, where new resistance has formed. Currently, the asset is trading close to this resistance zone, and given the absence of significant corrections in the asset's chart recently, there is a possibility of a minor retracement. However, considering the growing TVL in the Sui network, significant activity within the DeFi ecosystem of this blockchain, and the absence of negative developments surrounding the primary cryptocurrency, the most likely scenario is the continuation of SUI's upward trend. The next target for buyers would be the $1.5 price level. In case of a temporary correction, NYSE:SUI could retrace to support zones ranging from $1.22–$1.27, $1.14–$1.19, and $1.09. If the overall crypto market conditions remain stable, the decline in SUI should be viewed as a potential buying opportunity in the spot market.
by DEXWireNews
Liquid-staking > Bitcoin ETF? Why did some coins do well?Trying to make sense of what happened this week in the markets - glad that Tezos is getting some shine but what made this week interesting is that it coincided with Bitcoin's ETF - news which didn't really help Bitcoin all that much but it helped a *select few* coins, while most of them actually went down. My gut tells me that both $XTZ and NYSE:SUI have something "normal people" want - which is basic, L1 liquid staking that allows people to earn "interest" on their money in a way where they don't have to lock it up. (Don't get me started on ETH on this one, lol.) LSE:TIA might've gotten some attention because they were marketing their liquid staking protocol recently but it's similar to other workaround solutions where you get tokens instead of the actual coin itself. I think it's safe to say that most people won't bother with L2 staking since managing sub-tokens within a currency itself is just too much work, and too much risk. This is mostly just a hunch the hypothesis right now is that some of the money that was supposed to flow into Bitcoin ETFs took a closer look at saw liquid staking as something potentially appealing since it's one of the few things in crypto that's easier to understand. What do you think?
Long
by RyanTanaka