SUI’s Plunge: Robinhood’s Charm Fails to Save the Day! 🌪️💸

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Darling, it seems the SUI token is having a rather dramatic downturn, despite its grand entrance on Robinhood. 🦅✨ How utterly disappointing! One would think a listing on such a platform would be the equivalent of a standing ovation, but alas, the market has other plans. 🎭

  • SUI’s price continues its downward spiral, even after Robinhood’s warm embrace. 🌀
  • A whopping $5.64 million in long liquidations yesterday-how dreadfully tragic! 😱💔
  • Stablecoin supply? Down 16% in a week. The blockchain is feeling a bit light-headed, I’m afraid. 🩺

Since August 17th, SUI has been on a rather unbecoming downtrend, darling. It entered a consolidation phase around $3.40-$3.50 on August 20th, and at the moment, it’s trading at $3.47. That’s a 16% dip from this month’s high and a 34% plunge from its yearly peak. How utterly gauche! 👠💎

SUI’s Robinhood Romance Ends in Tears

One would think a listing on Robinhood would be the social event of the season, but SUI seems to have missed the memo. While most cryptocurrencies would be toasting their success, SUI is busy tripping over its own hem. 🍾🤦‍♀️ The broader market sentiment isn’t helping either, with Bitcoin and Ethereum also having a rather bad hair day. 💇‍♂️

Investor sentiment? Darling, it’s as bearish as a grizzly in winter. Open interest in SUI futures has plummeted from $2.66 billion to $1.84 billion. That’s a clear sign that the party’s over, and everyone’s heading for the exit. 🎉🚪

And let’s not forget the long/short ratio, which has dipped below 1. Traders are positioning themselves for more downside, darling. It’s like they’re all expecting the worst-and they’re probably right! 🤷‍♀️

Onchain data from DeFiLlama paints an equally dreary picture. The total value locked in decentralized finance has dropped by 11% in the last week, now sitting at $3.4 billion. And the stablecoin supply? Down 16%, to a mere $770 million. It’s all rather bleak, isn’t it? 🌧️💰

Stablecoins, the lifeblood of on-chain liquidity, are in short supply. This suggests that capital inflows and user engagement are drying up faster than a martini at a Coward soiree. 🍸

Technicals: A Bearish Ballet

On the daily chart, SUI has gracefully fallen below its 50-day moving average. Traders, of course, are interpreting this as a bearish signal. How predictable! 📉

Momentum indicators are equally dramatic. The Moving Average Convergence Divergence has crossed below its signal line, and the Relative Strength Index has dropped to 44. Selling pressure is mounting, darling. It’s all rather exhausting! 😓

Based on these bearish signals, SUI could very well drop to the $3.27 support level, which marked the monthly low on August 2. A break below that, and we’re looking at a plunge below the psychological $3.00 level. How utterly dreadful! 🤯

Of course, there’s always the possibility of a bullish reversal, darling. If the price tests and rebounds from the rising trendline that’s been its savior since April, we might see a rebound. But let’s not hold our breath, shall we? 🌟🤞

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2025-08-20 11:10