#SUI🔥 . ### **$SUI 15-Day Analysis: Bearish Breakdown, Signs of Stabilization?**

*(Data: ~June 1 – June 15, 2024)*

#### **📉 Technical Analysis**

1. **Price Action**:

- **-30% Decline**: Fell from **$1.20** (early June) to a 15-day low of **$0.78** (June 13–14).

- **Critical Break**: Shattered key support at **$0.90**, accelerating selling pressure.

- **Recent Range**: Consolidating between **$0.78–$0.85** after the drop, hinting at exhaustion.

2. **Indicators**:

- **RSI**: Bounced from oversold (<30) to neutral (40–45), suggesting *temporary* relief.

- **MACD**: Bearish momentum persists (histogram negative), though downtrend may be slowing.

- **Volume**: High volume on breakdown → low volume on bounces → fading volume in consolidation.

- **MAs**: Trading below all key EMAs (20/50/200-day); **$1.00** now major resistance.

3. **Key Levels**:

- **Support**: $0.78 (local low) → $0.75 → **$0.70** (psychological).

- **Resistance**: $0.85 → **$0.90** (flipped resistance) → $1.00.

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#### **🌐 Fundamental & On-Chain Insights**

1. **Market Correlation**:

- Mirrored broader crypto selloff (BTC <$67K, ETH weakness). Altcoins like SUI amplified downside.

2. **Network Health**:

- **Transactions**: High TPS maintained, but no major dApp catalysts emerged.

- **TVL**: ~$700M (DefiLlama). Resilient vs. price (-15% vs. SUI’s -30%), signaling *relative* strength in utility.

- **Staking**: 82% of circulating supply staked – high loyalty but limits liquidity.

3. **Tokenomics**:

- Next unlock: **9.87M SUI** (~$8.5M) on [June 27](https://token.unlocks.app/sui) (watch for sell pressure).

4. **Ecosystem Updates**:

- Partnerships (e.g., [Google Cloud](https://twitter.com/sui_network/status/1795033912430060029)) and gaming app launches.

- **No major news countered macro bearishness**, leaving price vulnerable.

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#### **📊 Sentiment & Liquidity**

- **Social Sentiment**: Shifted from bullish → fearful/neutral (Crypto Twitter, Santiment).