The cryptocurrency market faces opposite winds, because geopolitical tensions and security problems weigh on the feeling of investors.
The sharp drop in the day after the day, with a broader uncertainty of the market, although solid interests of buyers emerged at support levels of around $ 3.40 to $ 3.42.
Meanwhile, the Su sur community joined the recovery efforts of the Cetus protocol after its recent hack, validators massively approving a plan to return the frozen funds to affected users.
Strengths of technical analysis
- Sui -USD rushed up from $ 3.59 to a minimum of $ 3.38 during midnight time with an extraordinary volume (24.8 million) – more than triple of the average time trading activity.
- The overall range of $ 0.225 (6.25%) demonstrates substantial uncertainty of the market, with prices support at $ 3.40 to $ 3.42 in high volume, which suggests a high interest from buyers at these levels.
- After the sharp decline, SU has established a recovery scheme, forming an ascending channel with resistance around $ 3.50, although the momentum seems to decline, as evidenced by the recent rejection at $ 3.48 with increasing sale pressure.
- The price action has formed a channel descending from $ 3.48 to a hollow of $ 3.42, a notable support emerging at $ 3.43.
- The volume increased spectacular at 2:00 p.m., reaching 545,865 units – in addition to 4x the hourly average, coinciding with a solid rebound of $ 3.43 to $ 3.44.
- The subsequent rejection of $ 3.44 and the retrace at $ 3.43 suggests the formation of a potential model linked to the beach, with immediate resistance to $ 3.44 and a support at $ 3.43, indicating market indecision after the sharp active drop.
