SUN/USD remains under pressure; the price of this cryptocurrency fell from $0.042 to $0.010 since 15th November 2021, and the current price stands at $0.015.
There is still a level of uncertainty
SUN is an integrated platform for stablecoin swap, stake-mining, and decentralized autonomous organization (DAO) on the TRON public chain.
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Efficient swaps among any tokens (or stablecoins) with the best prices, user-governed liquidity mining, and token rewards are the main features of this platform.
SUN has a focus on building TRON’s DeFi ecosystem with a high level of functionality, profitability, and security by leveraging multiple transaction protocols.
DeFi saw continued robust growth in 2021, and driven by increased adoption among all investors, DeFi is entering a new stage of growth.
SUN is the native token of the SUN platform, and it plays an important role in platform governance. Token holders have complete control over the protocol, and they can influence the project’s governance by voting on changes.
Holders can also stake their tokens, and the SUN platform rewards them with reward tokens based on the amount they are staking. The SUN platform actively encourages more users to provide liquidity through a variety of ways, including rewards of transaction fees offered to liquidity market makers.
SUN token is aligned with TRON’s aspiration to bring common benefits to all users, and it is important to say that more than 40% of the SUN tokens remain undistributed. SUN token is distributed fairly and sustainably, and there are no tokens reserved for teams. The team of SUN added:
Going forward, the SUN platform will take on more features as the ecosystem grows, and the number of use cases for the SUN token will further increase, incentivising users to make a sustained contribution to the growth of the ecosystem.
Fundamentally looking, there is still uncertainty surrounding this project, and its success mainly depends on its strategy to expand its market influence.
Technically looking, SUN remains under pressure, and if you decide to buy this cryptocurrency in April 2022, you should use a “stop-loss” order because the risk remains high.
Bears in control of SUN
SUN has weakened from its recent highs, and it may take a long time for prices to see any bigger recovery. The risk of further declines is still not over, the critical support level stands at $0.010, and if the price breaks it, the next price target could be at $0.008.
On the other side, if the price jumps again above the $0.25 resistance, we have an open way to $0.30.
Summary
SUN is an integrated platform for stablecoin swap, stake-mining, and decentralized autonomous organization (DAO) on the TRON public chain. Technically looking, SUN remains under pressure, and the risk of further declines is still not over.
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Source: https://invezz.com/news/2022/04/07/sun-token-price-prediction-after-the-relentless-sell-off/