Ah, the Sui price, that fickle mistress, continues to dance away from our grasp, slipping downwards by a modest 3.25% in the last 24 hours, now resting at the rather unremarkable $3.72. Over the past week, it has lost a staggering 4.63%-a true testament to the art of losing money gracefully. The market cap, once a proud $13.09 billion, now resembles a deflated balloon, while the 24-hour trading volume has plummeted by 37% to a mere $1.32 billion. SUI has been playing a game of hopscotch, bouncing between $3.63 and $3.88, as investors tread carefully, like a cat on a hot tin roof, following a broad selloff in the cryptocurrency market.
And what of the broader market, you ask? Well, it seems the U.S. CPI data, revealing a 3.3% annual inflation, has sent the crypto market into a tailspin, resulting in a 1.5% drop and a staggering $1.05 billion in liquidations. For SUI, the short liquidations of $119k have outpaced the long liquidations of $14k, painting a rather gloomy picture of bearish sentiment. The futures open interest has also taken a hit, declining by 9.2% to $1.79 billion, while funding rates have normalized to a paltry 0.0083% after their dramatic peak in July. Truly, a comedy of errors!
Sui Price Analysis:
On August 15, SUI attempted a daring breakout above the $3.57 Fibonacci level, only to be met with the harsh reality of failure. This unfortunate turn of events triggered stop-loss orders, sending the price tumbling downwards. The rejection near the 30-day SMA at $3.79, coupled with a negative MACD histogram at -0.0026, confirms that the bullish momentum has faded faster than a magician’s rabbit. The 4-hour chart reveals an RSI that has slipped to 44, suggesting a bearish tilt that could make even the most optimistic trader weep.
The technical outlook for SUI shows it consolidating at $3.72, a level that aligns with the 61.8% Fibonacci retracement. A clean break below this level could send it tumbling towards $3.52, the 78.6% Fib support zone-oh, the drama! Any attempts at recovery will face resistance at $3.85 and $4.07, where previous selling pressure has left its mark. A decisive move above $4.07 could shift our gaze towards the $4.75 zone, but until then, we remain in suspense.
If SUI manages to cling to the $3.72 support, it may consolidate before daring to retest $3.85 and $4.07. However, should it break down, we can expect a swift descent towards $3.52, a critical zone for traders to keep their eyes peeled on-like hawks watching their prey.
FAQs
Why is SUI price down today?
Ah, the age-old question! U.S. inflation has triggered a risk-off sentiment, with crypto liquidations soaring to $1.05 billion. SUI, in its infinite wisdom, decided to drop 3.4% as traders cut their exposure to altcoins-because who needs money, right?
What are the key SUI support and resistance levels?
Immediate support is at $3.72, followed closely by $3.52. Resistance lies at $3.85 and $4.07, where the ghosts of selling pressure linger.
What is Sui price today?
Today, Sui price stands at $3.72, with an intraday change of -3.25%. A true rollercoaster of emotions!
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2025-08-16 13:48