Summary
SUI reacts 2 percent up to 3.25 dollars but risks resistance there at 3.45 dollars
Stickers show that it might retest of crucial support at $3.03
Network TVL returns to a stable point at $1.75 billion; the market cap of stablecoins increases by 8%
The configuration of EMA signals exhibits bearish momentum that is subject to death cross
Derivatives market characterizes liquidation and trader sentiment to be balanced
Discovering the present market dynamics of SUI
The SUI token has recovered in the past two days by 2 percent with a high price of 3.25, but it has been trapped in an important resistance area around 3.45. Nevertheless, network expansion as shown by the total value locked (TVL) of 1.75 billion and 8 percent increase in the market capitalization of stablecoins seemed to imply that the bearish trend continues according to technical indicators.
Technical Analysis: Bearish Indexes and Resistance Levels
In the 4-hour chart, SUI was unable to get past the resistance of the price at 4.20, resulting in a correction period with the trend of low highs and a local resistance trend line. Last week, a key support level at $3.03 was reached so that the price action would be critical.
There are various resistance levels such as the support-turned resistance level between $3.33 and $3.44 as well as the 50-period EMA at $3.41 that have limited any further gain. The EMAs configuration is at the moment more bearish with the 100- and 200-periods EMA being close to death cross, which is considered as long-lasting selling pressure.
There is Cautionary Concern in Momentum Indicators
The 4-hour RSI is having difficulty rising above the centerline, and this indicates a diminishing bullish trend. This implies that the buyers are not confident at this point, to drive up the prices in a sustained manner.
Support / Resistance: Future Areas to Pay Attention to Price
In the case that the resistance at $3.45 takes hold, SUI could revisit the support of $3.03. Further bearish pressure ought to be experienced in case of decisive breakdown below 3.03 on a 4-hour close towards retracing 50 levels at 2.71. On the other hand, the breaking point would be at $3.45 and then the door would be open to reach the target of 4.20, but the challenges are immense.
Derivative Markets Sentiment – Balanced and Waiting
SUI derivatives markets are not bullish as open interest increased 1.72% on a total of $1.43 billion indicating the inflow of more players as confusion prevailed. Liquidity statistics indicates almost equal long liquidations ($769,000) and shorts at false unities ($749,000) and one can point at lack of confident mood among traders, as they are involved in the process of a wait-and-see.
Conclusion
SUI is stuck in its technical crossroad, but negative signs are prevailing while the TVL and stablecoin development bears some favor. The major resistance of $3.45 and support of $3.03 are crucial levels that traders and investors need to watch with close attention to provide more directional indications.