Login to get your referral link.
18,781
Lunam Points
Sui (sui) The bulls have defended the support of $ 2 since March. However, to date, there was no sustainable demand from the cash market to guarantee a strong recovery.
So what is the next step for Solana Killer?
Source: sui / usdt, tradingView
On the 12 -hour table, SUP held more than $ 2, which doubled the peak of March 2024 and the springboard for the pump last November.
In addition, the level acted as a weekly Haussier control block (Cyan). In simple terms, $ 2 was solid support on higher calendar cards, and the bulls could try to defend it.
However, the request, as indicated by RSI reading, did not paint a bullish table for short -term Altcoin.
He slipped below the 50 mark, and the weakening appetite for Sui could cap his prospects for short -term recovery.
That said, the accumulation / distribution indicator has reached a pivot level and seemed to reverse, a trend that could suggest a renewal of interest for Altcoin.
However, an RSI rally above the neutral level could confirm this potential accumulation. As such, Suis could consolidate between $ 2, mobile averages and $ 2.8.
In fact, the 50 EMA (exponential, blue mobile average) has been a key resistance since February.
Source: Coanyze
Coanyze data supported the potential price action linked to the beach described above. In particular, as shown in the CVD (cumulative volume Delta volume), the demand of the cash market was released and stagnated in April.
Speculative interest in the derived segment has also fluctuated closely, as indicated by OC (open interest) swings between $ 300 million and $ 340 million.
In fact, with the domination of Bitcoin passing to 64%, Altcoins, like Suit, could remain capped in the meantime.
In conclusion, SU could prolong its price action linked to the range between $ 2 and $ 3 in the short term.
The prospects were based on the stagnant market demand to the point and the growing domination of the BTC. Even thus, the accumulation / distribution indicator suggested that an increasingly increasing inversion could be in sight.