- Sui price holds above $0.705 as traders watch a potential recovery setup.
- Kravata brings stablecoin payments and accounts to five million LatAm users.
- More Crypto Online identifies a possible Elliott Wave recovery pattern.
Sui Price Tests Support While Kravata Expands Network Use
Sui price is trading near $0.729, up 0.85% over 24 hours, while the broader market remains mixed. The move comes after Sui tested support around $0.705, with traders watching whether buyers can defend the zone.
Meanwhile, Kravata has launched on Sui, bringing regulated stablecoin transfers, payouts and embedded global accounts to users across Latin America.
Kravata says its services can reach 5 million users across the region. The platform also offers zero-gas-fee transfers with settlement completed within seconds.
Sui Price Setup Puts $0.737 Resistance in Focus
Sui price action remains concentrated between support near $0.705 and resistance around $0.737. More Crypto Online has identified the current structure as a potential Elliott Wave recovery setup.
A break above $0.737 could open a move toward the $0.756 Fibonacci 161.8% extension, based on the technical levels provided. Conversely, losing $0.705 could expose the asset to further downside pressure.
Short-term momentum also presents a mixed picture. The seven-day RSI stands at 72.55, indicating elevated buying momentum, while the 14-day RSI sits near 60.01.
Leverage adds another factor. Data cited in the supplied analysis shows 70.3% of top perpetual traders holding long positions, leaving the market exposed to forced selling if support fails.
Sui price also continues to track broader crypto conditions closely. Bitcoin’s move around $77,000 could influence altcoin demand, particularly if risk appetite changes before the September 16 Federal Reserve meeting.
The immediate technical picture therefore centers on the $0.705 support and $0.737 resistance levels, with Kravata’s stablecoin launch adding a new network-use development.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
