TLDR
Haedal Protocol (HAEDAL) fell 3.43% over the past 24h, extending a 10.6% weekly decline. Key drivers include technical weakness, lingering ecosystem risks from a May 2025 Sui exploit, and broader crypto market turbulence.
- Technical Breakdown – Price below critical moving averages, bearish RSI/MACD signals
- Ecosystem Risks – Residual caution after Cetus DEX exploit impacts Sui-linked assets
- Market-Wide Pressure – Altcoins underperform as crypto market cap drops 1.1%
Deep Dive
1. Technical Weakness (Bearish Impact)
Overview: HAEDAL trades at $0.12, below its 7-day SMA ($0.127) and 30-day SMA ($0.144). The RSI-14 sits at 40.74 (neutral-bearish), while the MACD histogram remains negative (-0.0014), signaling sustained selling pressure.
What this means: The price has failed to reclaim its 30-day average since mid-July, creating a "lower highs" pattern. Declining volume (-0.1% 24h) suggests weak buyer interest, increasing vulnerability to further downside.
2. Sui Ecosystem Caution (Mixed Impact)
Overview: HAEDAL’s price remains tied to Sui Network’s recovery after a $223M Cetus DEX exploit in May 2025 (CoinMarketCap). While HAEDAL’s haeVault feature was paused temporarily, Sui’s TVL remains 17% below pre-exploit levels.
What this means: Investors are still pricing in risks for Sui-based DeFi projects. HAEDAL’s 24h volume ($12.2M) lags behind its May peak of $31.6M, reflecting reduced speculative interest.
Overview: The crypto market cap fell 1.1% in 24h, with Bitcoin dominance rising to 58.78%. HAEDAL’s decline aligns with the CMC Altcoin Season Index at 43/100, signaling capital rotation away from smaller caps.
What this means: HAEDAL’s 30-day correlation with Bitcoin is 0.82, per CoinMarketCap data. As BTC struggles near $118K, liquidity shifts toward large caps, pressuring HAEDAL’s thin order books.
Conclusion
HAEDAL’s drop reflects a trifecta of technical breakdown, ecosystem headwinds, and macro risk-off sentiment. While Sui’s recovery efforts (e.g., Microsoft integration) could stabilize prices, traders should monitor Bitcoin’s $115K support and HAEDAL’s $0.1095 swing low.
Key watch: Can HAEDAL hold above its June 2025 low of $0.0951 if market volatility intensifies?