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- 1 SUI crypto price shows a range-bound move amid low investor interest.
- 2 Technical indicators are suggesting a retracement ahead.
The Sui price (SUI) is hovering around the 50-Day EMA mark and is witnessing range bound moves this week. Moreover, the price action signifies a retracement move and is revealing the low investor interest. Technicals are suggesting sellers could push it toward the downside support zone of $1.
Moreover, the on-chain metrics are floating on a lowering note and is suggesting a bearish wave for the upcoming sessions.
At press time, the Sui crypto (SUI) price was trading at $0.01200 with an intraday gain of 5.80%, indicating neutrality on the charts. It has a monthly return ratio of -70.10% and 1410.20% on a yearly basis. The pair of SUI/BTC is at 0.0000227 BTC, and the market cap is $802.70 Million. Analysts are neutral and suggest the Sui price will slip below the 50-Day EMA and may retest the round mark of $1 soon.
SUI Crypto Hovers In Range, What’s Next?
Amidst the range bound moves, the trading volume is witnessing an incremental move and surged by over 13% to $1.13 billion in the last 24 hours. Moreover, the price action shows that buyers are trying to attain a rebound and its token is hovering around the 50-Day EMA support zone revealing consolidation on the charts.
Price Volatility and Weighted Sentiment Indicates Neutrality
Per the Santiment data, the token indicates a steady move and is indicating neutral outlook. The price volatility data shows an average move and is hovering around the value of 0.04. However, the weighted sentiment data witnessed a pullback and the value retained the midline revealing the neutral investor sentiment.
Social Dominance and Open Interest Analysis
The above data shows that, the social dominance data shows an impressive spike and the value soared over 170% to 0.302. Additionally, the social volume noted a rise and surged to 45. The derivative data signifies a meaningful call writing which acted as a barrier for the token to attain pullback, the open interest was noted at $260.25 Million.
SUI Crypto Development Activity and RSI Overview
The chart shows that the development activity and the contributors count witnessed a surge this week. The development activity data rose by over 86% to 79, whereas the contributors’ count value increased by 30% to 18.
The relative strength index (RSI) curve noted a negative crossover and the value stayed near the midline. Furthermore, the total supply of the token is 10 billion, whereas the volume to market cap is 1.42.
Summary
The Sui crypto (SUI) price shows a steady move and is hovering around the 50-Day EMA support zone. However, the token has decisively held onto the gains but needs to attain a pullback to retain the upside near $2.
Technical Levels
Support Levels: $1.30 and $1
Resistance Levels: $1.70 and $2
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
