Market Overview

Sui token has experienced a significant drop of 9.25%, plummeting from $3.72 to $3.38 following a flash crash. During the crash, prices dropped from $3.45 to $3.40 within a minute, accompanied by a trading volume that surpassed 4.3 million units.

Key Points:

• The flash crash occurred between 09:37 and 09:38, raising concerns about market stability.
• In response to this decline, the token appears to have established a support level around $3.40, indicating a bounce-back potential toward $3.43 - $3.44.
• Despite an increase in geopolitical tensions impacting global cryptocurrency markets, Sui has shown resilience with potential for recovery due to strong buying interest.

Technical Analysis:

• The most severe selling happened during the midnight hour, during which SUI-USD recorded a 4.0% price drop.
• After the sharp decline, a V-shaped reversal pattern was noted, with the market reclaiming about 60% of its prior losses.
• Key resistance has formed around the $3.45 - $3.46 range, indicating possible consolidation.

This situation highlights the ongoing volatility within the cryptocurrency market and how external factors can influence coin performance significantly.