Market
SUI Price Stalls After Major $147 Million Token Unlock
SUI enters a critical phase today as a $147 million token unlock threatens to inject selling pressure into a market already testing key resistance levels. Despite a sharp rebound in momentum—evident in the RSI’s surge from oversold territory—SUI failed to break above the crucial 60 mark, signaling buyer hesitation.
The Ichimoku Cloud shows price action pressing against the cloud’s edge, but lacking the conviction needed for a clear breakout. With a possible golden cross forming on the EMA lines, bulls still have a chance—if they can overcome resistance at $2.50 and avoid being dragged down by post-unlock volatility.
SUI RSI Surged Since Yesterday But Failed To Break Above 60
SUI’s Relative Strength Index (RSI) has jumped sharply to 58.94, up from 29.38 just a day ago, reflecting a strong shift in short-term momentum.
The RSI is a momentum oscillator that measures the speed and magnitude of recent price changes. It typically ranges from 0 to 100. Readings below 30 suggest an asset may be oversold, while levels above 70 indicate it may be overbought.
The rapid rise in SUI’s RSI suggests buyers have stepped in aggressively after a period of heavy selling.
However, despite the impressive rebound, SUI’s RSI briefly approached but failed to break above the 60 threshold earlier today.
This level often acts as a short-term resistance during recovery phases, and the rejection may indicate lingering hesitation among buyers or profit-taking after the surge.
While the RSI nearing 60 is encouraging, a decisive move above it would be needed to confirm a breakout. For now, SUI appears to be in a recovery mode. However, the inability to push past 60 highlights that bulls are not fully in control just yet.
Ichimoku Cloud Shows Lack Of Strong Upward Momentum
SUI blockchain Ichimoku Cloud chart shows a potential breakout attempt, as the price has surged upward and is now hovering right at the edge of the Kumo (cloud).
This movement suggests bullish momentum is trying to build. However, the resistance provided by the thick, red cloud ahead could make it difficult for SUI to sustain the uptrend without stronger confirmation.
The Tenkan-sen (blue line) is starting to rise and has crossed above the Kijun-sen (red line), which is a bullish signal. However, the price still needs to clearly break and hold above the cloud to flip the overall trend from bearish to bullish.
For now, the cloud remains bearish and flat, indicating possible resistance and a lack of strong upward conviction.
The current position suggests that SUI is at a key decision point—either break through the cloud to initiate a trend reversal or get rejected and slip back into the previous downtrend range.
If buyers can sustain the pressure and push the price above the upper cloud boundary, it could trigger a stronger rally. But without increased volume and broader market support, the price risks getting stuck in consolidation or turning back downward.
Will SUI Rise Back To $2.80?
SUI’s EMA lines are tightening and showing signs of a potential golden cross. That happens when a short-term moving average crosses above a longer-term one—a classic bullish signal that often precedes upward momentum.
However, the price is currently grappling with a key resistance near the $2.50 level.
If bulls manage to break through this level, it could open the path for a move toward $2.83.
That said, downside risks remain, particularly with today’s $147 million token unlock, which could introduce significant selling pressure. If that selling materializes, SUI price could fall back to test the support at $2.23.
A breakdown below that level would likely shift momentum back in favor of bears. This would expose deeper supports at $2.11 and $1.96.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Wormhole (W) surged nearly 12% on Thursday after the project unveiled its official product roadmap. The project’s one-year anniversary has sparked speculative interviews.
However, technical data shows buyers and sellers locked in a fierce battle, as momentum indicators suggest a weakening trend. The DMI, Ichimoku Cloud, and EMA structures all reflect market indecision, with no clear direction confirmed just yet.
Wormhole DMI Chart Shows Market Indecision
Wormhole’s DMI chart shows its ADX (Average Directional Index) has dropped to 21.69 from 27.59 just a day earlier, signaling that the recent trend may be losing strength.
The ADX is a key indicator used to measure the strength—not the direction—of a trend. Generally, values below 20 suggest a weak or non-existent trend, while values above 25 indicate a strong trend.
With ADX now hovering near the threshold, it suggests that the bullish momentum seen in recent days could be fading.
Looking deeper, the +DI (Positive Directional Indicator) has fallen to 19.96 after peaking near 24 earlier, though it had surged from 9.68 the previous day.
Meanwhile, the -DI (Negative Directional Indicator) climbed to 18.27 after dropping to 15.21 earlier, following a sharp decline from 30.18 yesterday. This narrowing gap between +DI and -DI—combined with a weakening ADX—suggests uncertainty and potential indecision in price action.
With a $137.64 million token unlock on the horizon, this shift could hint at a cooling bullish impulse and the risk of renewed selling pressure if supply outweighs demand.
Ichimoku Cloud Shows Mixed Signals
Wormhole’s Ichimoku Cloud chart shows a mixed outlook. Price action is attempting to break through resistance but still faces notable headwinds.
The Tenkan-sen (blue line) has recently flattened and is closely aligned with the Kijun-sen (red line), signaling indecision or a potential pause in momentum.
Typically, when these lines are flat and close together, it indicates consolidation rather than a clear trend continuation or reversal.
Meanwhile, the Kumo (cloud) remains thick and red ahead, reflecting strong overhead resistance and a bearish long-term bias.
The price is hovering near the lower edge of the cloud but has yet to make a decisive move above it—suggesting that bullish momentum is tentative at best.
For a confirmed trend reversal, a clean break above the cloud with bullish crossovers would be needed. Until then, the chart points to a market still trying to find direction, especially ahead of a major token unlock event that could further impact sentiment and price action.
Will Wormhole Reclaim $0.10 In April?
Wormhole, which builds solutions around interoperable bridges, continues to see its EMA setup reflect a bearish structure. Short-term moving averages are still positioned below the longer-term ones, an indication that downward pressure remains dominant.
However, one of the short-term EMAs has started to curve upward, hinting at a possible shift in momentum as buyers begin to step in. This early uptick could signal the beginning of a trend reversal, though confirmation is still pending.
If bullish momentum gains traction, Wormhole may attempt to break the nearby resistance at $0.089. A successful breakout could open the door for a move toward higher resistance levels at $0.108 and even $0.136.
Conversely, failure to clear $0.089 could reinforce bearish control, pushing the price back to test support at $0.079.
A break below that level could expose W to further downside toward $0.076, $0.073, and potentially below $0.07—marking uncharted territory for the token.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
XRP is under pressure, down nearly 6% in the past 24 hours and teetering just above the $2 mark as bearish momentum builds. A $1.02 billion unlock from Ripple’s escrow has sparked fresh concerns about oversupply, with tokens moved to operational wallets possibly poised for distribution.
At the same time, network activity has collapsed 87% since mid-March and technical indicators like DMI and EMA lines suggest growing downside risk. With weakening trend strength and fading demand, XRP may struggle to hold key support levels unless a catalyst revives bullish sentiment.
Ripple Wallet Activity Sparks Fears
Onchain data shows that Ripple has unlocked 500 million XRP—worth around $1.02 billion—from its escrow account.
The tokens were moved from the “Ripple (27)” escrow address to two operational wallets, “Ripple (12)” and “Ripple (13),” potentially positioning them for distribution or sale.
While the escrow account still holds another 500 million XRP, the movement of such a large amount into accessible wallets often raises concerns about increased market supply. If Ripple sells a portion of these tokens, it could create short-term selling pressure on XRP’s price.
From a technical standpoint, XRP’s DMI chart is flashing bearish signals. The ADX, which measures trend strength, has sharply declined to 26.68 from 42.45 just two days ago, suggesting the recent trend is weakening.
Meanwhile, the +DI has dropped to 12.91, down from 22 yesterday—indicating a decline in bullish momentum. At the same time, the -DI has surged to 27.43 from 15.64, pointing to rising bearish pressure.
This shift in directional strength, combined with the large token unlock, suggests XRP may face further downside unless demand quickly absorbs the incoming supply.
XRP Network Activity Collapses 87%
XRP’s network activity surged to record highs in March, with 7-day active addresses reaching an all-time peak of 1.22 million on March 18.
However, that momentum quickly faded, with the number now plummeting to just 158,000—an 87% drop in less than three weeks.
This dramatic reversal suggests that the recent spike in engagement may have been short-lived or event-driven rather than indicative of sustained adoption or growing user demand.
Tracking 7-day active addresses is a key on-chain metric, offering insight into how frequently a token’s network is being used. High activity can signal strong user interest and utility, often aligning with price support or rallies.
On the other hand, sharp declines in active addresses—like what XRP is now experiencing—can signal waning demand, decreasing network usage, and potential selling pressure.
With such a steep drop in activity, XRP’s price may struggle to find an upside unless new catalysts reignite user engagement.
XRP Faces Strong Downtrend, But Eyes Rebound If Key Levels Break
XRP’s EMA structure clearly reflects a strong ongoing downtrend, with short-term moving averages positioned well below the long-term ones and a wide gap between them—signaling persistent bearish momentum.
Unless bulls step in soon, XRP price may be on track to test support around $1.90, a key level that has held in the past.
A break below it could expose the asset to further downside toward $1.77.
However, if XRP manages to reverse the current trend and regain upward momentum, it could climb to challenge resistance at $2.06.
A successful breakout above that level might pave the way for a continued rally toward $2.22.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
The crypto market watches with bated breath as XRP teeters at $1.97, a battleground where bullish conviction clashes with bearish determination. After a retreat from recent highs, the digital asset now faces a critical test.
The current standoff mirrors the broader tug-of-war in crypto markets, where sentiment shifts rapidly and key price levels dictate the next major move. For XRP, $1.97 isn’t just another number; it’s a line in the sand. A decisive hold here could reignite upward momentum, while a breakdown may embolden the bears.
Market Sentiment: Fear, Greed, Or Indecision?
According to Grumlin Mystery, a well-known crypto analyst, XRP is likely to experience a further downside in the near future, potentially dropping to $1.96. In his March 30th post on X, he highlighted that a decrease in liquidity within the crypto market is playing a crucial role in weakening XRP’s price stability, driven by the impact of US tariffs and the implementation of Trump’s policy changes.
Grumlin pointed out that restrictive trade policies and economic uncertainty have led to a slowdown in capital flow into riskier assets like cryptocurrencies. With reduced liquidity, market participants have less buying power, making it easier for bears to push prices lower. He warned that if these economic conditions persist, XRP could struggle to find strong support, and a drop below $1.96 could trigger further declines.
This drying up of liquidity has allowed sellers to gain the upper hand, exerting downward pressure on prices. As a result, XRP’s ability to hold support at $1.96 remains uncertain, and unless market conditions improve, a deeper correction could be on the horizon.
Grumlin Mystery further elaborated that a sharp change in Trump’s rhetoric regarding tariffs remains highly unpredictable, making it difficult to gauge its full impact on the financial markets, including cryptocurrencies. While many initially believed that Trump’s stance would be a major positive catalyst for the crypto market, the reality appears to be more complex.
The analyst emphasized that market uncertainty is increasing as traders struggle to anticipate the next move in U.S. economic policy. If Trump maintains or intensifies his tariff approach, it could further tighten liquidity conditions, making it even harder for XRP to sustain bullish momentum.
Possible Scenarios For XRP
If buyers successfully defend the $1.96 level, XRP could see renewed upside momentum. A bounce from this support zone might trigger a rally toward $2.64, where the next resistance lies. A breakout above this level raises the potential to $2.92 or even $3.4, confirming a bullish recovery. Increased trading volume and improving market sentiment would be key indicators of this scenario playing out.
Sellers’ failure to maintain control and XRP’s failure to hold above $1.96 may cause a sharper decline. In this case, the next critical support levels to watch would be $1.70 and $1.34. Breaking below these levels could expose the asset to more losses to $0.93 or lower.
Altcoin Season Still In Sight Even As Ethereum Struggles To Gain Upward Momentum
Wormhole (W) Jumps 10%—But Is a Pullback Coming?
Ripple Shifts $1B in XRP Amid Growing Bearish Pressure
US SEC Acknowledges Fidelity’s Filing for Solana ETF
XRP Battle Between Bulls And Bears Hinges On $1.97 – What To Expect
Binance Managed 94% of All Crypto Airdrops and Staking Rewards
2.52 Million Altcoins Are Ruining Crypto’s Future
Animoca Brands Valuation Tanks 75% In Two Years, Here’s Why
Crypto exchange BingX hacked for $43 million
Are The Big Players Losing Interest?
Hong Kong’s Securities Association Tips Authorities On Crypto Self-Regulation
Coinbase cbBTC Set to go Live on Solana
2.52 Million Altcoins Are Ruining Crypto’s Future
Animoca Brands Valuation Tanks 75% In Two Years, Here’s Why
Crypto exchange BingX hacked for $43 million
Are The Big Players Losing Interest?
Hong Kong’s Securities Association Tips Authorities On Crypto Self-Regulation
Coinbase cbBTC Set to go Live on Solana
-
Altcoin23 hours agoFirst Digital Trust Denies Justin Sun’s Allegations, Claims Full Solvency
-
Altcoin24 hours agoWill Cardano Price Bounce Back to $0.70 or Crash to $0.60?
-
Altcoin19 hours agoBinance Sidelines Pi Network Again In Vote To List Initiative, Here’s All
-
Market16 hours agoXRP Price Under Pressure—New Lows Signal More Trouble Ahead
-
Altcoin15 hours agoAnalyst Forecasts 250% Dogecoin Price Rally If This Level Holds
-
Market15 hours agoCardano (ADA) Downtrend Deepens—Is a Rebound Possible?
-
Altcoin12 hours agoVanEck Seeks BNB ETF Approval—Big Win For Binance?
-
Market19 hours agoXRP Price Reversal Toward $3.5 In The Works With Short And Long-Term Targets Revealed
