SUI is a new project, based on HIGH PERFORMANCE blockchain, aimed at Web3, DeFi, and NFTs applications. PROMISING technology, focused on SCALABILITY and SPEED at scale. It has support from major VCs and is developed by former members of the Diem (Meta/Facebook) team.
PARALLEL execution of transactions: This means it can process MANY transactions at the same time, which greatly increases scalability (unlike ETH, which is more SEQUENTIAL).
Crazy, right?! VERY CRAZY! Even mom is in on it, lol!
It has a growth POTENTIAL in the Web3 ecosystem so significant that staying out is tough… hard to resist this beauty. BUT, in any case, that shake-up, because the competition is HIGH in the sector we have; Solana, Aptos, Avalanche, etc. A knockout of these competitors and… downward slope 😅😂
———— Let's go! 🥷👇🏽
It is in ACCUMULATION with significant BUYING STRENGTH.
REVERSAL PATTERN: On the daily and weekly, there are formations of reversal candles like BULLISH ENGULFING and HAMMER. If it continues maintaining the VOLUME and breaks the RESISTANCES, it could aim for 5.35.
On the MONTHLY chart, we have a PULLBACK, for a possible resumption of BULLISH MOVEMENT.