Market
SUI Open Interest Surges 50%, Death Cross Could Fade Quickly

SUI has shown signs of recovery, and the crypto token’s price is trading at $2.65, which is just below the crucial resistance level of $2.77. This resistance stands as the last hurdle before the altcoin can reach the $3.00 mark.
Supported by improved market conditions and trader sentiment, SUI has been gaining momentum recently.
SUI Traders Are Optimistic
SUI’s Open Interest has surged by $273 million over the past week, increasing by 50%. The current Open Interest now stands at $825 million, signaling strong confidence. This rise in Open Interest indicates that more traders are actively participating in the market, and many are optimistic about the altcoin’s future prospects.
The positive funding rate also reinforces this sentiment, suggesting that long contracts dominate the market. With a majority of traders betting on upward movement, the market sentiment remains bullish for SUI.

Despite the recent formation of a Death Cross nine days ago, the macro momentum for SUI remains strong. A Death Cross, where the 50-day EMA crosses below the 200-day EMA, is typically a bearish signal, often indicating a potential price decline.
However, given the improving market conditions and strong investor support, the expected bearish decline may not materialize as strongly as it traditionally would. SUI’s price action suggests that the Death Cross may fade quickly, as it does not align with the current market environment.

SUI Price Is In For A Rise
SUI is currently trading at $2.65, just below the key resistance level of $2.77. Breaching this barrier could trigger a rally toward $3.00. If the altcoin successfully breaks above $2.77, it will likely continue its path toward $3.00, marking a strong recovery and potential for further growth.
Given the increasing market confidence and the positive Open Interest, SUI could aim to breach the next critical resistance at $3.18. Achieving this would help recover recent losses and potentially send SUI to new highs. A breakthrough $3.18 would indicate that the altcoin is poised for a significant rally.

However, if SUI fails to maintain its upward momentum and falls back to the support of $2.47, it could be vulnerable to further declines. A drop below $2.47 would likely strengthen the bearish implications of the Death Cross. This could potentially push the price down to $2.22 or lower, delaying recovery.
Disclaimer
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Market
Dogecoin (DOGE) Bulls In Trouble—Can They Prevent a Drop Below $0.15?

Dogecoin started a fresh decline from the $0.1880 zone against the US Dollar. DOGE is declining and might test the $0.150 support zone.
- DOGE price started a fresh decline below the $0.1850 and $0.1750 levels.
- The price is trading below the $0.1750 level and the 100-hourly simple moving average.
- There is a key bearish trend line forming with resistance at $0.170 on the hourly chart of the DOGE/USD pair (data source from Kraken).
- The price could extend losses if it breaks the $0.1620 support zone.
Dogecoin Price Dips Further
Dogecoin price started a fresh decline after it failed to clear $0.200, like Bitcoin and Ethereum. DOGE dipped below the $0.1880 and $0.1820 support levels.
The bears were able to push the price below the $0.1750 support level. It even traded close to the $0.1620 support. A low was formed at $0.1628 and the price is now consolidating losses below the 23.6% Fib retracement level of the downward move from the $0.2057 swing high to the $0.1628 low.
Dogecoin price is now trading below the $0.1750 level and the 100-hourly simple moving average. Immediate resistance on the upside is near the $0.170 level. There is also a key bearish trend line forming with resistance at $0.170 on the hourly chart of the DOGE/USD pair.
The first major resistance for the bulls could be near the $0.1730 level. The next major resistance is near the $0.1770 level. A close above the $0.1770 resistance might send the price toward the $0.1850 resistance.
The 50% Fib retracement level of the downward move from the $0.2057 swing high to the $0.1628 low is also near the $0.1850 zone. Any more gains might send the price toward the $0.1880 level. The next major stop for the bulls might be $0.1950.
More Losses In DOGE?
If DOGE’s price fails to climb above the $0.1770 level, it could start another decline. Initial support on the downside is near the $0.1635 level. The next major support is near the $0.1620 level.
The main support sits at $0.1550. If there is a downside break below the $0.1550 support, the price could decline further. In the stated case, the price might decline toward the $0.1320 level or even $0.120 in the near term.
Technical Indicators
Hourly MACD – The MACD for DOGE/USD is now gaining momentum in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now below the 50 level.
Major Support Levels – $0.1620 and $0.1550.
Major Resistance Levels – $0.1720 and $0.1770.
Market
XRP Price Fate Hangs on $2.00—Major Move Incoming?

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Market
Ethereum Price Weakens—Can Bulls Prevent a Major Breakdown?

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Ethereum price started another decline and traded below the $1,880 level. ETH is now consolidating and remains at risk of more losses.
- Ethereum struggled to continue higher above the $2,000 resistance level.
- The price is trading below $1,880 and the 100-hourly Simple Moving Average.
- There is a connecting bearish trend line forming with resistance at $1,820 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair must clear the $1,820 and $1,880 resistance levels to start a decent increase.
Ethereum Price Dips Again
Ethereum price failed to continue higher above $2,100 and started another decline, like Bitcoin. ETH declined below the $1,920 and $1,880 support levels.
It tested the $1,765 zone. A low was formed at $1,767 and the price recently attempted a fresh upward move. There was a move above the $1,800 level but the price is still below the 23.6% Fib retracement level of the recent decline from the $2,033 swing high to the $1,767 low.
Ethereum price is now trading below $1,880 and the 100-hourly Simple Moving Average. There is also a connecting bearish trend line forming with resistance at $1,820 on the hourly chart of ETH/USD.
On the upside, the price seems to be facing hurdles near the $1,820 level. The next key resistance is near the $1,880 level and the 50% Fib retracement level of the recent decline from the $2,033 swing high to the $1,767 low. The first major resistance is near the $1,920 level.

A clear move above the $1,920 resistance might send the price toward the $2,000 resistance. An upside break above the $2,000 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,050 resistance zone or even $2,120 in the near term.
More Losses In ETH?
If Ethereum fails to clear the $1,880 resistance, it could start another decline. Initial support on the downside is near the $1,780 level. The first major support sits near the $1,765 zone.
A clear move below the $1,765 support might push the price toward the $1,720 support. Any more losses might send the price toward the $1,680 support level in the near term. The next key support sits at $1,650.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is losing momentum in the bearish zone.
Hourly RSI – The RSI for ETH/USD is now below the 50 zone.
Major Support Level – $1,765
Major Resistance Level – $1,880
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