“Sui Plunged Nearly 13% Before Stabilizing Above $ 3 As High-Volume Sell Pressure Gave Way to Cautotuus Dip Buying.”, – WRITE: www.coindesk.com
Droped 9.64% to $ 3.0211 On June 13, Extending A Steep Overnight Correction That Saw The Token Fall from $ 3.34 to An Intrady Low of $ 2.9556. The Breakdown at $ 3.20-A Previoously Firm Support Zone-Unleashed Heavy Sell Pressure and Marked A Turning Point in Short-Term Sentiment, with Over 50 Million Tokens Traded Durying.
After Briefly Breaching the $ 3.00 Level, Sui Found Support Around $ 2.997, WHERE Buyer Interest Began to Surface. Price has since recovered into a Narrow $ 3.00– $ 3.05 Consolidation Band, Thought Momentum Remains Fragile. Lower Highs Continue to Form, Suggesting that Sellers Are Still in Control Unless Bulls Can Reclaim Levels Above $ 3.05 with CONVICATION.
The Sharp Move Follows a Wave of Broader Crypto Weakness and A Brief Spike in BTC Prices Tied to Us Inflation Data Earlier this Week. While The Macro Backdrop Remains UNCERTAIN, SUI’S PRICE Behavior Appears Primarily Technical: The $ 3.20 Breakdown Trigger Cascading Stop-Losses and Panic Selling, While Psyle Psy. Temporarily Stemmed the Deckline.
Volume Patterns Suggest Cautious Accompumulation, with A notable Spike at 14:00 UTC WHEN OVER 1.2 Million Tokens Changed Hands. However, Unless Buyers Can Reclaim Key Resistance Levels, The Current Bounnce May Prove Short-Lived. A ConfirMed Close Above $ 3.05 would be the first step Town Invalidating the Current Downtrend.
Technical Analysis Highlights
- UI Droped from $ 3.343 to $ 2.9556 in 24 Hours, A 12.9% Decline Before Partial Recovery.
- Sell Pressure Intensified After The $ 3.20 Breakdown at 00:00 UTC, With 50m+ Tokens Traded.
- Price has stabilized in a $ 3.00– $ 3.05 Consolidation Band.
- A minor recovery lifted price from $ 2.997 to $ 3.017 in the most recent hour.
- Volume at 14:00 UTC TOPPED 1.2M, SIGNING SHORT-TRIM ACCUMULATION NEAR SUPPORT.
- Resistance Sits at $ 3.05; Support Remains FIRM AT $ 2.94.
Disclaimer: Parts of this Article Were Generated with the Assistance from Ai Tools and Review by Our Editorial Team to Enseure Accucy and Adherence to Our Standards. For more information, See Coindesk’s Full Ai Policy.
All Content Produced by Coindesk Analytics is Undergoes Human Editing by Coindesk’s Editorial Team Before Publication. The Tool Synthesizes Market Data and Information from Coindesk Data and Other Sources to Create Timely Market Reports, with All External Sources Clearly Attributed Within Each.
Coindesk Analytics Operates Under Coindesk’s AI Content Guidelines, WHICH PRIORITIZE Accuracy, Transparency, and Editorial Oversight. Learn more about Coindesk’s Approach to Ai-Generated Content In Our Ai Policy.
