SUI fell 9.25% from $ 3.72 to $ 3.38, with heaviest sales in midnight hours UTC on volume 78% higher than daily average
The recent correction comes in the midst of wider geopolitical tensions affecting the cryptocurrency markets globally.
While Bitcoin has shown resilience to critical resistance zones, SUI has faced a pressure down in spite of strong basic elements.
The Cetus Protocol utilization, which resulted in $ 223 million in stolen assets (with $ 162 million Frozen), has created uncertainty, although the SUI community seems to approve a recovery plan with 71% of the validators already voting “yes” to return the frozen funds.
Technical analysis distribution
- SUI-USD fell from a high of $ 3,728 to a low level of $ 3,383, representing a correction of 9.25%.
- The strongest sales pressure occurred during the midnight time (00:00) with 4.0% price drop of 78% higher than average.
- Strong resistance established at $ 3.55 level.
- Recovery attempt visible at $ 3.42 support with volume above average over 01: 00-02: 00 period.
- Lower heights forming a falling trendline, which indicates continued bearish pressure.
- Flash accident occurred between 09: 37-09: 38, with price that fell from $ 3.45 to $ 3.40.
- Extraordinary volume of 4.3 million units registered during the flash crash.
- V-shaped reversing pattern formed, which regains approx. 60% of the losses.
- Price stabilization around $ 3.43- $ 3.44 range.
- Key Support to $ 3.40, showing significant buying interests across multiple time frames.
- New resistance formed to $ 3.45- $ 3.46, creating a consolidation area. Reducing the sales pressure suggests potential stabilization in the short term.
