The Bitter Harvest of SUI’s Trading Frenzy
What portends the iron grip of bearishness upon SUI, despite the cacophony of trading?
A 22% plunge into the abyss, a withering TVL, and the shattering of technical bastions foretell a relentless descent, even as trading volumes soar by 350%. 🌪️
What miracle could wrest SUI from the jaws of this bearish leviathan?
Only the reclaiming of the sacred $3 threshold and the breaching of the ascending trendline might herald a fleeting glimmer of bullish hope. 🛡️
Sui [SUI], once a proud stallion in the crypto steppe, has been felled by the scythe of the broader market crash, its prolonged uptrend now a distant memory. The air is thick with the scent of further declines, as inevitable as the Siberian winter. ❄️
This grim prognosis is fortified by the hemorrhaging of Total Value Locked (TVL), the collapse of technical fortifications, and the frenzied participation of the masses-all heralds of an unyielding downward march. 🧊
At the hour of reckoning, SUI languishes at $2.72, a 22% fall from grace in the span of a single day. This precipitous decline is accompanied by a surge in activity, as traders and investors alike scramble like ants in a collapsing colony. 🐜
CoinMarketCap reveals that SUI’s 24-hour trading volume has ballooned by 350%, reaching a staggering $434 million. This unholy alliance of price collapse and volume explosion suggests that the market’s bears have tightened their grip, driven by a collective hysteria. 🐻
On-chain Whispers of Doom
Indeed, the on-chain metrics paint a picture as bleak as a Solzhenitsyn novel. 🖋️
DeFiLlama reports that SUI’s TVL has plummeted by 18.90%, leaving it at a paltry $2.103 billion. This exodus of funds is a testament to the waning faith in the Sui ecosystem, a silent vote of no confidence. 🚪
Meanwhile, Sui’s DEX volume has skyrocketed to a record $1.543 billion, a macabre dance of panic selling and investor flight, a symphony of fear and uncertainty. 🎭
SUI’s Technical Odyssey: The Levels of Despair
AMBCrypto’s technical soothsayers observe SUI meandering sideways, trapped between the Scylla of $2.529 and the Charybdis of $2.817. This lateral drift follows the breach of a once-sacred ascending trendline, intact since the halcyon days of August 2024. ⚔️
With the trendline shattered, SUI’s bullish saga, a tale of triumph since 2024, has given way to a bearish epic. Should this downward spiral persist, the price could plummet another 40%, reaching the abyssal $1.65 in the blink of an eye. 🕳️
A reversal, as unlikely as a thaw in the Gulag, would demand SUI’s resurgence above the $3 citadel and the reconquering of its lost trendline. 🏰
At this juncture, the Average Directional Index (ADX) lingers at 22, a feeble whisper below the critical 25, signaling a trend as weak as a malnourished prisoner. 🦴 Meanwhile, the Supertrend indicator, ever the harbinger of doom, looms above the price, a sentinel of relentless downward pressure. ⚰️
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2025-10-12 00:32