What to know:
- In a spectacle worthy of the grandest stage, SUI danced through a volatile 7.3% intraday range, pirouetting between $2.71 and $2.92 before settling down at a modest $2.78, as per the ever-watchful CoinDesk Research’s technical analysis model. 🎭
- Trading volume, oh sweet volume, surged a staggering 11% above the 30-day average, as if the market itself was throwing a wild party during the reversal! 🎉
- Alas, the price action could not hold its ground above the $2.82 resistance, finding solace instead near $2.72 after a series of dramatic pivots. 🥴
In a whirlwind of chaos, SUI found itself in a turbulent 24-hour trading window, marked by sharp intraday swings and a trading frenzy that would make even the most seasoned traders dizzy. After a dramatic plunge to $2.71, the token attempted a gallant rally towards $2.92, only to be met with the iron fist of resistance at $2.82. This formidable barrier swiftly turned the tide, dragging prices back to the $2.78–$2.79 area, like a soap opera plot twist! 📉
What made this rollercoaster ride even more thrilling was the accompanying surge in 24-hour trading volume, which spiked 11% above the 30-day average. Such fervent participation amplified the volatility, with price swings that could give both bulls and bears a serious case of whiplash! 🤕 The rejection from $2.82 and the failed attempts to reclaim that level set the stage for a more cautious trading atmosphere in the days to come.
Support around the $2.72–$2.75 region proved to be as resilient as a cat with nine lives, bouncing off that range multiple times. As the volume cools and consolidation tightens, SUI may enter a contemplative waiting period, as traders reassess their short-term direction following the failed breakout and this unusually active session. 🐱👤
Technical Analysis Highlights
- SUI traded in a dramatic 7.3% range between $2.919 and $2.710 during the 24-hour window, a true spectacle! 🎢
- Heavy selling struck at 08:00, as the price plummeted 9.1% from $2.878 to $2.765, leaving traders gasping for air. 😲
- A bounce attempt around 18:00 sent SUI up 1.5% to $2.824 on a volume of 1.4M, but the joy was short-lived! 🎈
- The rally was immediately reversed, with price falling to $2.784, confirming resistance near $2.82, like a cruel joke played by the market. 😂
- Support held near $2.72–$2.75 despite multiple tests and consolidation throughout the session, proving that even in chaos, some things remain steadfast. 🛡️
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2025-06-18 23:20