Sui Price continues to act under $ 3 marking and struggles to get strength despite a recent collaboration with Trump’s World Liberty Financial. What is the following?
Currently, according to Crypto.news Price Tracker, Sui (Sui) is experiencing a weak momentum according to Crypto.news Price Tracker. At 42.39, the relative strength index indicates that it is not actively resold but is still in Bearish.
The 50-day EMA for $ 3.35 and the 200-day EMA for $ 3.02, both signal a bearish trend. If the sales pressure increases, the support is around $ 2.70 and $ 2.50, while the resistance is $ 3.57.
In the meantime, the rising trading activity is demonstrated by an increase of 10% in open interest in the last 24 hours, according to Coinglass facts. Although the momentum can be improved by a movement above $ 3, a recovery depends on the increased demand and stronger decentralized financial activity in the longer term.
Sui’s Defi -Ecosystem has demonstrated mixed signals, according to facts from Defillama. The total value fell from $ 2.05 billion to $ 1.25 billion in January, which is a reflection of capital outflows. In the meantime, the market capitalization of Stablecoins has risen from $ 378 million to $ 648 million, a sign of greater liquidity.
However, there seems to be a decrease in trading activity, because the monthly decentralized exchange volume fell from $ 12 billion in January to $ 7 billion.
Sui announced a partnership with World WLFI, a Defi protocol supported by Trump that collected $ 300 million on 6 March. Sui initially rose about 18% on news about the partnership, but the momentum has cooled since then.
Arkham Intelligence facts Shows WLFI did not have meaningful SUI companies before the announcement, in which he knew doubts about the immediate impact, but that traders speculate that WLFI will soon start to acquire sui.
Institutional interest in Sui has also been expanded, where Vaneck launched the first product -related product last year. Although this offers greater exposure to the active, it still has to stimulate a continuing buying pressure. Sui, who competes with Ethereum and Solana, has a market capitalization of $ 8.6 billion and claims transaction speeds of up to 297,000 TPS.
