SUI price risks more correction with technicians remaining declining star-news.press/wp

Sui Price may continue to see more losses in the future as the techniques remain dumping for the original despite its last inserts on Robinhood.

The distinctive symbol of SUI (SUI) was in the direction of landing since August 17 before entering a standardization phase in the range of $ 3.40 – $ 3.50 on August 20. As of the time of the press, it was traded at $ 3.47, a 16 % decrease from the highest level for this month and 34 % of its highest point this year.

The SUI symbol continued to decline after securing a Robinhood list, one of the most popular trading platforms in the United States while cryptocurrencies usually collect after being included in such good reputable exchanges, and Sui’s decrease may be part of the broader landing feelings in the market, as Bitcoin (BTC) has decreased to less than $ 4.00.

The price has also decreased, as the investor’s feeling seemed to turn into an increased decline. according to Data From Coinglass, the open interest in Sui Futures decreased sharply – from $ 2.66 billion in late July to $ 1.84 billion as of today – leading to a decrease in speculative activity and trust in the market.

Additional data shows that the long/short percentage has decreased less than 1, indicating that more traders are now determining the moves of the negative side. This shift in feelings follows the liquidation of 5.64 million dollars in the last session.

Onchain data from Deville It also showed that the SUI ecosystem does not work well in recent days. The closed total value in decentralized financing decreased by 11 % in the last 7 days to $ 3.4 billion.

The total supplies of Stablecoins also decreased on Blockchain by 16 % during the same period, reaching about 770 million dollars.

Stablecoins is the backbone of liquidity on the chain and trading activity. The decrease in its supply reduces capital flows and the user’s participation within the ecosystem.

Sui techniques remain declining

On the daily chart, SUI decreased to less than a 50 -day moving average, which is a technical development that is usually interpreted as a declining signal by merchants.

Momentum indicators support this landfill. The average spacing of medium rapprochement beyond the signal line, accompanied by the expansion of the red graph bars. Meanwhile, the relative strength index decreased to 44, a sign of increased pressure pressure.

Depending on the above homogeneous signals, SUI is likely to drop to the support level of $ 3.27, which represents the monthly depression recorded on August 2. A decisive break down at the bottom of this threshold is likely to decrease less than $ 3.00.

On the contrary, the potential oud reflection in the cards remains if price tests and apostasy from the rising trend line that provided support on multiple occasions since April. Historically, SUI wore this direction line every time it is tested, indicating that there is still a major area for a possible recovery monitoring.