- SUI struggles below $4 resistance despite surpassing ADA in daily trading volume.
- ADA faces repeated rejection at $0.795 but holds strong short-term $0.78 support.
- Declining volumes in both SUI and ADA signal weakening short-term market momentum.
The cryptocurrency market has seen significant fluctuations in recent days, with altcoins like SUI and Cardano (ADA) facing volatility in their price action. Notably, SUI has surpassed ADA in 24-hour trading volume, attracting attention from traders and investors. This shift in momentum offers valuable insights into the current market trends.
SUI: A Struggling but Active Coin
SUI has shown a decline of 1.87% in the last 24 hours, as of press time trading at $3.88. This decrease in value is accompanied by a sharp drop in trading volume, down 49.41% from the previous day. The volume slump highlights weakening short-term momentum, and the coin has faced significant intraday volatility.
Despite multiple attempts to break the $4.00 mark, SUI has been unsuccessful in overcoming resistance. This suggests that sellers are still active in this price range, creating pressure on the coin.
In terms of key price levels, $4.00–$4.02 remains a critical resistance zone for SUI. The price has struggled to move above this level, pointing to a psychological barrier for buyers.
On the downside, support is found at $3.85, which was tested and confirmed after a sharp price bounce earlier in the day. The current price of $3.88 also serves as a potential support level. However, if the price falls below this point, a retest of $3.85 or even lower levels is possible.
ADA: Slow Recovery Amidst Resistance
Meanwhile, Cardano (ADA) has shown a more gradual upward movement. The coin has seen a modest 0.72% increase in the past 24 hours, with a current price of $0.7960.
Despite this rise, ADA’s trading volume has decreased by 35.10%, indicating lower market activity. This reduction in volume can result in heightened price volatility, making ADA more susceptible to sharp moves in either direction.
The primary resistance level for ADA is situated around $0.795, where the price faced multiple rejections throughout the day. If the price manages to break this resistance, ADA could test higher levels, potentially reaching the $0.80 zone.
On the support side, $0.78 remains a strong level, as the price has bounced from this area earlier. With ADA’s current price near $0.79, this level could act as a short-term support, though a decline below this point might trigger a retest of lower support zones.
