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#SuiUpdate Sui ($SUI) is an up-and-coming blockchain that uses the Move programming language to enable low-latency management of assets.
The price of $SUI has performed impressively since its launch in 2023, rising from around $1.50 to an all-time high of $5.3647, marking a year-to-date gain of over 300%. Data from Coinglass supports this sentiment, showing a decent long-to-short ratio for the coin.
Sui recently broke below its ascending trendline, a support level it had maintained since November 27. Although the price briefly recovered to retest the broken trendline, it faced rejection, signaling a potential shift in market structure from bullish to bearish.
At press time, $SUI is trading at approximately $4.17. If the pullback continues, the price could decline by another 16%, potentially retesting its 200-day Exponential Moving Average (EMA) at $3.75.
The price of $SUI has performed impressively since its launch in 2023, rising from around $1.50 to an all-time high of $5.3647, marking a year-to-date gain of over 300%. Data from Coinglass supports this sentiment, showing a decent long-to-short ratio for the coin.
Sui recently broke below its ascending trendline, a support level it had maintained since November 27. Although the price briefly recovered to retest the broken trendline, it faced rejection, signaling a potential shift in market structure from bullish to bearish.
At press time, $SUI is trading at approximately $4.17. If the pullback continues, the price could decline by another 16%, potentially retesting its 200-day Exponential Moving Average (EMA) at $3.75.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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