Sui 2.68% 24h decline driven by profit-taking and ETF speculation cooldown
1. Post-ETF Filing Cooldown: SUI dropped 2.68% to $3.1624 as initial excitement over the 21Shares ETF filing faded, prompting profit-taking and short-term volatility.
2. Active Trading, Mixed Sentiment: 24-hour trading volume reached $675.4M, with SUI up 4.12% against USD over 7 days but down 2.68% in the last 24 hours, reflecting mixed market sentiment.
3. Testing Key Support: SUI is approaching key support at $3.09, with resistance at $3.43; neutral sentiment (Fear & Greed index 50) and recent price consolidation signal indecision.
Dego Finance -52.20%: Liquidity Reserve Announcement and Whale Sell-Off Trigger Sharp Decline
1. Liquidity Shock and Whale Activity: DEGO’s 52.2% drop to $1.260 was triggered by a liquidity reserve announcement for USD1 on BNB Chain, prompting large-scale whale sell-offs and panic selling.
2. Volume Surge Amid Panic: 24-hour trading volume soared 246% to $85.02 million, with market cap dropping to $29.21 million, reflecting intense short-term volatility and heightened risk.
3. Bearish Breakdown: Price collapsed from $2.636 to $1.260, breaking major support levels; technical sentiment remains negative with risk of further downside, though minor stabilization is seen near $1.26.
Ravencoin Surges 64% as Upbit Listing Spurs Record Volume and Renewed Market Momentum
Ravencoin (RVN) is currently trading at $0.01841 with a 24-hour trading volume of $12,632,050.73, reflecting a significant 64.23% price increase from the previous day. The sharp rise in price and trading activity is primarily attributed to the launch of RVN/KRW trading on Upbit at 15:00 local time on June 5, 2024, which drove heightened demand and volume across multiple exchanges. This event, combined with continued technical interest and buyer activity at recent support levels, has contributed to the notable short-term volatility and upward momentum observed in the RVN market.
$DEGO /USDT 4H Chart Analysis
DEGO/USDT has seen a dramatic move on the 4-hour chart, currently trading at 1.254 USDT, down 5.07% in the last candle. Let’s break it down:
🔴 Price Action: The chart shows a massive bearish candle on June 5th, dropping the price from around 2.600 USDT to 1.254 USDT a steep 52.36% decline in a short period.
This indicates strong selling pressure, possibly triggered by a market event or panic selling. The price has since stabilized around the 1.250 USDT level, but the momentum remains bearish.
📉 Volume: The volume spiked significantly during the drop, with 48.19M USDT traded in the last 24 hours. This high volume confirms the intensity of the sell-off, though it has tapered off slightly post-drop, suggesting a potential pause in selling pressure.
📅 Historical Performance: Looking at the performance metrics:
7 Days: Down 30.0%
30 Days: Down 20.8%
90 Days: Down 63.0%
180 Days: Down 48.31%
The consistent downward trend over multiple timeframes indicates a broader bearish sentiment for DEGO.
🔧 Technical Indicators:
The price is well below its 24-hour high of 2.689 USDT and even below the 24-hour low of 1.232 USDT before this drop. This suggests a potential new support zone around 1.200-1.250 USDT.
The volume SMA (Simple Moving Average) shows a sharp increase, aligning with the price drop, which often signals a capitulation event.
📈 What’s Next?:
Support: The current level around 1.250 USDT may act as short-term support. If this breaks, the next psychological level could be 1.000 USDT.
Resistance: Any recovery would face resistance around 1.500 USDT, with a stronger barrier near 2.000 USDT where the price consolidated before the drop.
Sentiment: The sharp decline and high volume suggest caution. Watch for signs of accumulation or a reversal pattern (e.g., a bullish divergence on RSI, not visible here) before considering a long position.
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