SUIUSD Daily Outlook

Sui is a first-of-its-kind Layer 1 blockchain and smart contract platform designed to make digital asset ownership fast, private, secure, and accessible.

Consensus Mechanism- On Sui, consensus has a simple API: validators submit different user transactions to consensus concurrently, and the consensus outputs a consistent stream of transactions across all well-behaving validators

zkLogin is a Sui primitive that enables you to send transactions from a Sui address using an OAuth credential, without publicly linking the two. zkLogin describes the primitive and how to implement it.

The Sui delegated proof-of-stake (PoS) mechanism calculates total stake as the sum of user stake plus the SUI tokens deposited in the storage fund.  Hence, the storage fund receives a proportional share of the overall stake rewards depending on its size relative to total stake.

.Transaction per second 297000

Time to finality - 400ms

Ichimoku Analysis  (4 hour chart)

Tenken-Sen- $1.12

Kijun-Sen- $1.08

SUIUSD recovered after a massive sell-off.

Any daily close above $1.20 confirms further bullishness.

SUIUSD  jumped nearly 40% in the past three days. The pair holds well above the short-term (21 and 55 EMA) and long-term moving average. It hit a high of $0.6596 and is currently trading around $0.6553.

The bullish invalidation can happen if the pair closes below $0.45.On the lower side, the near-term support is $0.60. Any break below targets $0.45.

The immediate resistance stands at around $0.80. Any breach above confirms bullish continuation. A jump to $1/$1.20  is possible. A surge past $1.20 will take it to $2.

It is good to buy on dips around $0.60 with SL around $0.40 for TP of $1.20.