SUI Network has resumed its operations again after facing an outage for hours altogether. The outage has resulted in the SUI token facing a price downturn till the time there were no blocks mined.
SUI Token Resumes Operations
The Sui network is operational and handling transactions once more after facing an outage during the early trading hours of November 21st.
According to the official announcement of the network, a flaw in the transaction scheduling mechanism that led validators to crash was the source of the two-hour outage, however, it has since been fixed now.
Data from Suivision and Suiscan indicate that block generation stopped at 09:15 UTC today. Sui Network verified on its X page that the two-hour outage was due to a flaw in the transaction scheduling algorithm that led validators to crash.
Since the mainnet’s introduction in May 2023, this is the first time a problem like this with Sui mainnet validators has arisen. Previously, when attempting to process transactions, the public remote procedure call (RPC) nodes on the Sui mainnet experienced a “major outage” in July 2024.
However, that problem was fixed after some time of the occurrence. A problem that prevented Sui Network’s testnet validators from taking on new user transactions earlier this month was also fixed.
SUI Token Sees A Fall During Outage
The SUI Network saw a downfall of over 0.7% during the outage, trading at $3.63, at the press time. However, the fall seems temporary given that most technical indicators for the coin show otherwise.
As per market analysis, the present sentiment for the coin is bullish. According to technical indicators, the Fear & Greed Index of the coin is currently at 82 (Extreme Greed).
Over the previous 30 days, Sui Crypto saw 20 out of 30 (67%) green days and 28.89% price volatility. This highlights that investors are attracted to the coin given its alluring ROI.
According to data from November 21, the Sui token has 23 technical analysis indicators indicating optimistic signs and 6 indicating negative ones.
If the current bullish momentum continues, Sui coin’s 200-day SMA will increase over the upcoming month, reaching $ 2.26. In the same tone, by December, the coin’s short-term 50-day SMA is predicted to reach $5.35.
One well-liked indicator that shows if a cryptocurrency is overbought (above 70) or oversold (below 30) is the Relative Strength Index (RSI) momentum oscillator. With the RSI rating of 73.72 right now, the SUI market is overbought.