• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Market Concerns: Volatility and Decline of Sui (SUI)

user avatar

by Giorgi Kostiuk

2 years ago

The past 24 hours have been notably volatile for the cryptocurrency market. Despite the lack of direct comments on cryptocurrency from Donald Trump's inauguration, large-scale purchases by his World Liberty Financial suggest potential support for the crypto industry.

Current Market Situation

Donald Trump's inauguration concluded without cryptocurrency discussions. However, his World Liberty Financial's large purchases hint at support for the crypto industry. Bitcoin dominance surged to 59%, pushing many altcoins, including Sui (SUI), into the red.

Breach of Ascending Channel Support

Sui (SUI) had shown significant growth, reaching $5.36 from $1.85. However, recent volatility caused a breach in ascending channel support at $4.66, dipping below the 50-day moving average, signaling a bearish trend.

Recovery Opportunities for SUI

For recovery, SUI needs to reclaim the $4.66 level. If the $4.23 support fails to hold, further decline to $3.95 might occur. Bitcoin's influence and market sentiment will be key in determining SUI's next moves.

The current market situation remains uncertain. Despite support from significant investors, cryptocurrencies face challenges.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

CZ Zhao Issues Warning on Hardware Wallet Security Following Major Exploit

chest

CZ Zhao warns cryptocurrency owners about hardware wallet vulnerabilities following a major exploit that resulted in significant losses.

user avatarEmily Carter

Upbit Conducts Major Internal Wallet Reorganization of SHIB

chest

South Korean exchange Upbit has reorganized 864 billion SHIB across its internal wallet addresses as part of a standard internal rebalancing process aimed at managing liquidity and security.

user avatarTomas Novak

Avalanche Staking Value Reaches $20.477 Billion

chest

Avalanche's staking value has reached approximately $20.477 billion, indicating strong network participation.

user avatarMaya Lundqvist

Helicon Upgrade Activated on Fuji Testnet

chest

The Helicon upgrade has been activated on the Fuji testnet, marking a significant step in Avalanche's development.

user avatarKaterina Papadopoulou

Avalanche Awards Grant to YourGrails for Tokenization of Physical Trading Cards

chest

Avalanche's Team1 Accelerator awarded a $30,000 grant to YourGrails for tokenizing physical trading cards, supporting the growth of the real-world asset ecosystem.

user avatarLeo van der Veen

Aave Governance Considers Wind Down of Low-Use V3 Markets

chest

Aave governance is reviewing a proposal to wind down six low-adoption V3 markets and offboard dozens of reserves to reduce operational complexity.

user avatarLi Weicheng

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.