- Sui faces a pullback as it tests the $3.50 support zone, with potential rebound targets near $3.70 ahead.
- Network strength remains solid as Sui processes over 11 million daily transactions, far surpassing XRPL activity levels.
- Market signals show mixed momentum, with RSI staying neutral and MACD reflecting gradually fading bullish pressure.
Sui is seeing a pullback after its recent rally, and it’s seeing interest across the whole crypto sphere. Technical analysts pay attention to healthy network activity as positive news, in spite of weakening cost action cooling down. Market analysts watch to see if SUI can keep essential support areas intact and rebound in the short term.
At the time of writing, SUI is trading at $3.36, recording a 24-hour trading volume of $2.54 billion and a market capitalization of $7.90 billion. The token has seen a -7.32% decline in the past 24 hours, reflecting a cooling phase after recent gains.
Sui Transactions Surge Despite Price Drop
Despite the price decline, Sui’s on-chain activity remains normal. Prominent crypto analyst Leader Alpha recently reported that more than 11 million transactions per day are being handled by the blockchain today. In other words, it’s more than 7.5 times busier than the XRP Ledger (XRPL), famously described as a payments-centric chain.
SUI Tests Key Support Amid Market Pullback
Meanwhile, another crypto analyst, BitGuru, noted that SUI touched as much as $3.90 in recent times before pulling back and is today probing an important support zone around $3.50. If buyers materialize and defend this level, the coin can rebound to $3.70 or higher. If support fails, however, the cryptocurrency can drop down to around $3.30.
SUI’s recent action highlights the balance between increased blockchain activity and near-term weakness in the market. Speculators continue to watch to see if the token will continue to hold ground and trigger another rally.
Also Read | Sui Bulls Defend Support, Eye Explosive Surge Toward $10
Sui Shows Mixed Market Signals
The Relative Strength Index (RSI) stands at 49.97, just around the neutral 50 line, and the signal line at 53.30, showing weak momentum. The MA Ribbon also provides support at $3.33 and $2.23, and resistance at $3.45, showing lateral movement of the market without any clear breakout as of yet.
Looking at the MACD, one can observe that the blue line at 0.1299 is still remaining above the red line at -0.0270; still, the signal line at 0.1570 remains more prominent, showing dwindling bullish pressure as momentum slowly decreases. Sellers could take control if the gap decreases further.
Also Read | SUI Price Eyes Breakout Toward $4 After Falling Wedge Pattern Confirmation
