Let me dish out some #cryptocurrencies. with strong potential to earn money in the next month .

These coins include #BNB , a native coin of the world's largest exchange, and Matic, an undervalued, eco-friendly currency.

#pepe is Mooning this season

while #ARBITRUM is a new product linked to China narratives and a large Hong Kong market. and #SUI_Coin is another untapped ecosystem.

Fig 1.0 shows Arbitruim logo

This is expected to blow this bull run season

Disclaimer:

This is not a financial advice, kindly do your research to confirm mine NFA

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My next drop is going to be blast 🔥

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The Sui (SUI) price fell below an important support level that has been in place since the beginning of the month. This could be the catalyst for a sharp fall.

Both the price action and indicator readings support the continuing decrease. So, a significant reversal would have to occur for the trend to be considered bullish.

Sui Price Finally Breaks Down

The SUI price has decreased under a descending resistance line since May 4. During this period, it bounced at the $1.05 horizontal support area numerous times.

The price action created a descending triangle, which is considered a bearish pattern. The descending triangle usually leads to breakdowns.

On May 24, the SUI price finally fell below the $1.05 horizontal area, confirming the breakdown from the triangle.

The six-hour RSI is bearish, supporting the continuation of the descent. By using the RSI as a momentum indicator, traders can determine whether a market is overbought or oversold and decide whether to accumulate or sell an asset.

If the RSI reading is above 50 and the trend is upward, bulls have an advantage, but if the reading is below 50, the opposite is true. The indicator is below 50 and decreasing, suggesting that the trend is bearish.

SUI Price Prediction: Is There Hope for a Reversal?

A closer look at the technical analysis from the 6-hour chart offers some hope for a reversal, but not enough to indicate that the trend is bullish.

The price may have traded inside a descending parallel channel since May 4. This is considered a bullish pattern, meaning that it will likely lead to a breakout. However, the channel’s support line has not been validated enough times.

If the channel is valid, the price now trades just above its midline. A close below the midline will confirm that a reversal will not transpire, but rather that the downward movement will continue.

If so, a breakdown that travels the entire previous pattern’s height (white) will take the SUI price to $0.70. This would also cause a breakdown from the parallel channel.

On the other hand, reclaiming the $1.05 area will invalidate this bearish SUI price prediction and indicate that the trend is still bullish.

In that case, the SUI price could increase toward the next closest resistance at $1.35.

#SUI_Coin #crypto2023 #Binance #cryptocurrency

The recent mainnet launch of the #SUI token has been met with mixed reactions from the crypto community. While many anticipated a surge in value and increased investor interest, the reality proved to be quite different. The SUI token experienced a significant crash during its mainnet launch, leaving investors and enthusiasts wondering what caused this downturn and whether the initial hype has now dissipated.

Understanding the SUI Token and Mainnet Launch: Before delving into the reasons behind the crash, it is essential to provide an overview of the SUI token and its mainnet launch. The SUI token is a cryptocurrency that aims to revolutionize a specific industry or solve a particular problem. The mainnet launch is a significant milestone for any token, as it marks the transition from a test environment to a fully functional blockchain network.

The Hype and Expectations: Leading up to the mainnet launch, the SUI token generated significant buzz and excitement within the crypto community. Anticipation was high, with investors hoping for substantial gains and increased adoption of the token. However, the reality did not align with these expectations, as the SUI token experienced a heavy crash during the launch.

Factors Contributing to the Crash: Several factors could have contributed to the crash of the SUI token during its mainnet launch. One possibility is that the market sentiment shifted, leading to a broader decline in the cryptocurrency market. External factors such as regulatory developments, global economic conditions, or negative news in the crypto industry could have impacted investor confidence and caused a sell-off.

Additionally, the hype surrounding the mainnet launch may have created unrealistic expectations. When the actual launch did not meet these lofty expectations, investors may have reacted by selling their holdings, triggering a downward spiral in the token's price.

Assessing the Long-Term Potential: While the initial crash during the mainnet launch is concerning, it is crucial to evaluate the long-term potential of the SUI token. Market volatility is not uncommon in the crypto space, and many successful projects have experienced setbacks before making significant strides. It is essential to consider the underlying technology, the team behind the project, and the utility of the token in assessing its long-term potential.

Conclusion:

The SUI token's heavy crash during its mainnet launch has raised questions about the sustainability of the initial hype. However, it is important to approach such market movements with caution and consider the broader context. While the short-term outlook may be uncertain, the long-term potential of the SUI token can only be determined through further analysis and observation. As with any investment, thorough research and a balanced perspective are key to making informed decisions in the volatile world of cryptocurrencies.

#SUI_Coin #sui #Binance #airdrop