Let's analyze the situation with $SUI, which has found itself at the center of sales.
📉 What the charts say (Technical Analysis):
· The price has broken key support levels and is trading below all major EMAs (7, 25), confirming the strength of the bears.
· RSI on the short timeframe (6) is in the oversold zone → a short-term bounce or pause in the decline is possible.
· Key support level: $2.34 (EMA99). The further fate of the trend will depend on this level.
· Volumes are low — the decline is happening without excitement, which may be a sign of capitulation among small holders.
📰 What's in the fundamentals (Fundamentals & News):
The SUI project continues to build a robust ecosystem, however, the market is currently focused on two things:
1. Overall weakness of the altcoin market.
2. Ongoing FUD around token unlocks, which creates psychological pressure on investors.
Fundamentals are strong, but in the short term, emotions and macro factors rule the game.
🎯 Possible scenarios:
· Bearish: A breakout and consolidation below $2.30 may send the price to the next support levels.
· Neutral/Bullish: Bounce from $2.34 and consolidation. The first target for bulls is to return above $2.70, and then try to attack $3.00-$3.20.
💭 My opinion:
The current situation requires caution. Despite being oversold, the downward momentum is still strong. Any purchases at current levels should be considered an aggressive tactic with a clear stop-loss below $2.30. A safer entry point would be after confirmation of a reversal and growth on increased volumes.
Remember, this is not financial advice! Always conduct your own research (DYOR).
Let's discuss in the comments! What do you think, $SUI will hold at the current support?
#SUİ #TechnicalAnalysis #crypto #trading #BinanceSquare
