Oh, the panic! Right before the FOMC meeting, with altcoins like little SUI feeling the squeeze. Despite all the buzz and growth surrounding SUI, the bulls are having a hard time keeping their grip on key levels. Are we in for a wild ride that drags SUI down to $3?
SUI Price Analysis Reveals Strong Selling Pressure
Then wouldn’t you know it, the price trend shows a bearish engulfing candle made a grand appearance on January 28. A whopping 7.5% drop in a flash, putting a damper on the poor hammer candle that showed up on January 27.
And just when you thought it couldn’t get worse, that bearish candle extended the 5-day losing streak. Now trading at $3.62 after being spurned by $3.79, SUI seems to be heading for the doldrums, skittering below the 100-day EMA line and hitting a new low! Sell signals all around, folks! 📉🚨
SUI Rescue: Phantom Wallet Extends Support for SUI
But wait! A dashing knight appears! 🏇👻 Despite the bearish vibes, the SUI token found a new friend in the Phantom wallet. Famous among the Web3 folks, Phantom wallet now supports the SUI blockchain. Huzzah!
💧 🤝 👻
Sui is now live on @Phantom!
Send, swap, and explore the first Move-based chain on Phantom.
— Sui (@SuiNetwork) January 29, 2025
Phantom’s new embrace means Sui is now the only Move-based chain on their platform. That’s a lot of new friends, folks, as Phantom hosts 15 million monthly users!
According to Christian Thompson, Managing Director of the Sui Foundation:
“The launch of Sui as the first Move-based chain on the Phantom Wallet validates what the community has accomplished in the past year.”
With this partnership, Phantom users can now play with their SUI-based tokens, swap assets, and mingle with dApps like SUILEND, NABI, Aftermath, and Bluefin. 🪙✨
Analyst Finds Bullish Trigger
But is there a flicker of hope? Independent analyst Martinez Ali seems to think so! The TD sequential indicator has whispered a “buy” signal. Oh, the plot thickens! 📈🔍
For now, the SUI bulls need to keep things steady above the 100-day EMA for a possible rally. If the stars align, we might be heading for the $4.29 mark! But beware, complete failure to manage the bearish vibes could mean a tumble towards the 200-day EMA near $3.
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2025-01-29 18:42