💥 #sui Reversal signal emerges! Stablecoin market cap soars by 19%

SUI as of the time of writing has a trading price of about $2.82. Although it has pulled back by 20% this week, it remains robust. It has risen by 3.6% in the past 24 hours, with a monthly increase of 24%, indicating that the market is quietly recovering📈. The on-chain stablecoin market cap skyrocketed to $1.1 billion in a week, and the total locked value (TVL) also hit a new high of $2.63 billion, showing significant improvement in liquidity and a rebound in investor confidence💧.

Recently, SUI also welcomed a major partnership: launching the yield-bearing stablecoin YLDS in collaboration with Figure Technology Solutions, allowing users to convert yield-bearing tokens with USDC on DeepBook. The native stablecoins suiUSDe and USDi are set to launch by the end of the year, enhancing the ecosystem and liquidity📌.

From a technical perspective, the RSI is close to 39, nearing oversold territory, with short-term momentum turning positive, suggesting potential accumulation opportunities. Key resistance levels are at $3.00-$3.16, with long-term resistance at $3.29 and support at $2.60; a drop below this level may retest $2.20. As long as it stays above support, bulls have a chance to challenge $3.10-$3.20 again, and a breakthrough at $3.35 could open up an upward space towards $3.80. Overall, SUI is slowly brewing a rebound and is worth monitoring🌊. #加密市场观察