newchains

Move-based Layer 1 faces selling pressure as newer chains underperform during risk-off periods.
What's Happening:
SUI slides 1.67% to $1.57, extending recent correctionMove programming language ecosystem continues to attract developersNew DeFi protocols launching despite price weaknessGaming and NFT integrations progress on the network
Why It Matters: SUI's steeper decline relative to established Layer 1s reflects the higher beta nature of newer blockchain investments. While the Move-based architecture offers genuine technical innovation, the token hasn't yet built the institutional support base that provides price floors during market stress.
Technical View: $SUI breaking below $1.60 represents a bearish technical development. The $1.52 daily low is critical support that must hold to prevent acceleration lower. Resistance has shifted to $1.64, and recovery requires decisive buying volume that hasn't materialized yet.
🎯 Key Levels:
Support: $1.52 | Resistance: $1.6424h Range: $1.52 - $1.64
💡 New chains get sold first and bought last in fear cycles - SUI's technology will matter more in the next euphoria phase
What's your take? Drop a 🔥 for bullish, ❄️ for bearish 👇
#Sui #SUI #MoveLanguage #Layer1 #NewChains
Disclaimer: This content is for educational purposes only and should not be considered financial advice. Always do your own research (DYOR) before making any investment decisions.