SUI price dips 3.89% amid bullish signals and Claynosaurz partnership boost
- SUI shows short-term weakness despite maintaining a bullish market structure.
- Technical indicators suggest overbought conditions, warranting cautious optimism.
- Strategic collaboration with Claynosaurz boosts long-term Web3 adoption potential.
The native SUI token is trading at $3.33, down by 3.89% in the last 24 hours. This is accompanied by a significant slump in trading volumes, now standing at $1.02 billion and down by 36.64%. The last seven days have seen the asset decline by 1.95%, indicating a minor pullback after a series of consistent increases.
In spite of the retracement, commentators are cautiously optimistic. The Relative Strength Index (RSI) has risen to 82.89, in the range of overbought, normally signaling a short-term correction. Nevertheless, the bullish configuration is in place.
The Moving Average Convergence Divergence (MACD) has turned upward, and high discovery (86%) serves as testimony to strong market interest. Analysts believe the latest price breather in the vicinity of the $3.35 threshold is due to be healthy and not one signaling trend reversal.
Dealers should keep a close watch on the key support area of $3.32. A break below $3.21 will test the bullish argument, whereas a move towards the resistance of $3.56 will re-ignite buying interest. Conservative traders will likely wait for RSI deceleration before taking fresh exposures.
Sui and Claynosaurz partner to transform NFT entertainment
In what may redefine the NFT entertainment market, Sui has made the formal announcement on the 3rd of May of its partnership with Claynosaurz. Claynosaurz, with its cutting-edge NFT products, seeks to merge its delivery mechanisms with Suis high-performance infrastructure.
The partnership is centered on the expansion of the Web3 entertainment experience with the introduction of immersive and interactive environments. Enhanced by Suis scalable architecture, the partnership will launch new NFT sets and virtual experiences specifically designed for new audiences and veteran Web3 users.
Describing the move, Claynosaurz Chief Executive Andrew Pelekis spoke of the strategic imperative: Were not shifting chains, were growing to define the entertainment of the future, he said, pointing to Suis role in supporting seamless delivery of content.
The reception in the community has been quite favorable, with developer and user reactions early on backing the platforms philosophy of affordable, scalable blockchain entertainment.
SUI price forecast shows potential high of $6.43 by 2025
In spite of volatility in the short term, SUIs long-term outlook is strong. Changelly forecasts that the currency has the potential to hit as high as $6.43 by the year 2025, with an ROI of up to 479.3%. For the month of May in particular in 2025, experts project between $3.40 and $11.49, with the potential ROI of up to 935.1%.
These forecasts, coupled with increasing strategic partnerships, indicate that SUI has favorable conditions in place to take advantage of wider blockchain and NFT adoption trends. Investors and users alike will be watching with anticipation as the token enters its next stage.
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Read more: https://www.tronweekly.com/sui-price-dips-3-89-amid-bullish-signals/
Text source: TronWeekly
