What to know:
- SUI took a nosedive of 9.64% to $3.0211, after a dramatic plunge to $2.9556 earlier today. CoinDesk Research’s technical analysis model must be having a meltdown! 😱
- That breakdown at $3.20? Yeah, it triggered a sell-off that could make a waterfall jealous—over 50 million tokens were dumped! 💦
- But wait! Price bounced back off support near $2.997, like a cat that always lands on its feet, stabilizing in the $3.00–$3.05 range. 🐱
- Volume spiked at 14:00, with over 1.2 million units traded in just one hour. Talk about a party! 🎉
- However, momentum is as weak as my willpower in front of a donut, with lower highs forming and resistance building near $3.05. 🍩
Sui (SUI) dropped 9.64% to $3.0211 on June 13, extending a steep overnight correction that saw the token fall from $3.34 to an intraday low of $2.9556. The breakdown at $3.20—once a sturdy support zone—unleashed a sell-off that would make even the most seasoned trader weep, with over 50 million tokens traded during the chaos. 😢
After a brief flirtation with the $3.00 level, SUI found support around $2.997, where buyer interest finally decided to show up. Price has since recovered into a narrow $3.00–$3.05 consolidation band, but let’s be real—momentum is as fragile as my confidence on karaoke night. 🎤
This sharp move follows a wave of broader crypto weakness and a brief spike in BTC prices tied to U.S. inflation data earlier this week. While the macro backdrop remains as uncertain as my plans for the weekend, SUI’s price behavior seems primarily technical: the $3.20 breakdown triggered cascading stop-losses and panic selling, while psychological support near $3.00 has temporarily stemmed the decline. 🧠
Volume patterns suggest cautious accumulation, with a notable spike at 14:00 UTC when over 1.2 million tokens changed hands. But unless buyers can reclaim key resistance levels, this current bounce might just be a fleeting moment of joy. A confirmed close above $3.05 would be the first step toward invalidating the current downtrend. 🚀
Technical Analysis Highlights
- SUI dropped from $3.343 to $2.9556 in 24 hours—a 12.9% decline before a partial recovery. Ouch! 😬
- Sell pressure intensified after the $3.20 breakdown at 00:00 UTC, with 50M+ tokens traded. It was like Black Friday, but for crypto! 🛒
- Price has stabilized in a $3.00–$3.05 consolidation band. Stability is key, folks! 🔑
- A minor recovery lifted price from $2.997 to $3.017 in the most recent hour. Every little bit helps! 💪
- Volume at 14:00 UTC topped 1.2M, signaling short-term accumulation near support. Buyers are lurking! 👀
- Resistance sits at $3.05; support remains firm at $2.94. It’s like a game of tug-of-war! 🏋️♂️
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2025-06-13 21:24