$SUI Latest Trends and Ecosystem Dynamics Analysis

$SUI Today's price is $3.1921, down 7.44% in the past 24 hours, currently oscillating near the support level of $3.1513. Technically, the price is below EMA(5) $3.2969 and EMA(25) $3.3541, with moving averages in a bearish arrangement. The MACD is negative (-0.0073), indicating a bearish trend. However, KDJ has entered the oversold zone (K value 34.5577), suggesting a potential rebound in the short term. If it breaks above $3.2969, the rebound target could be $3.40; if it falls below $3.1513, it may drop to $2.70-$2.40.

On the news front, the continuous expansion of the $SUI ecosystem brings positive momentum. On May 2, Claynosaurz announced its entry into Sui, launching NFTs and games, planning to release a mobile game by the end of 2025 and landing on SuiPlay0X1 handheld, showcasing Sui's potential in the gaming sector. 21Shares submitted an application for a SUI ETF and partnered with Fireblocks to enhance institutional support, leading to a 40% growth in Sui network TVL to $173 million, with stablecoin market capitalization reaching $880 million. However, the unlocking of $304 million tokens in early May has created selling pressure, and historical data shows that prices tend to pull back after unlocking.

In the short term, $SUI may face pressure due to the unlocking event, but ecosystem development lays the foundation for long-term growth. It is recommended for short-term traders to build a small position near $3.1513, with a stop loss at $3.10 and a target of $3.40; long-term investors can wait for a pullback to $2.70-$2.40 to accumulate in batches. Keep a close eye on market reactions and ecosystem developments, as $SUI's future performance is promising!

Investment Warning: The cryptocurrency market is highly volatile, and investments carry risks; caution is advised when entering the market. This article is for reference only and does not constitute investment advice; please evaluate the risks independently.