Big G's SUI Market Outlook: Key Point in May, Opportunity or Risk?
Dear friends, today let's talk about the hot project SUI. Recently, the price of SUI has been fluctuating around $3, while on-chain data is exceptionally hot; what opportunities are hidden behind this?
Short-term beware of unlocking bombs
The most explosive news in May is the unlocking of over 500 million SUI tokens (accounting for 21.7% of the total supply), and whales have already started moving them to exchanges. Although the team emphasizes this is a planned action, the sudden influx of so many chips into the market is bound to cause some price jitters. Historically, after the unlocking in January, SUI halved from $5.3, so this time we need to keep a close watch on the psychological level of $3; breaking it might trigger panic selling.
Fundamentals Supported by Ecological Explosion
Don't be troubled by the unlock, SUI is truly impressive on-chain! The market cap of stablecoins has soared to $720 million, DEX weekly trading volume has surged 38% to $2.7 billion, and TVL has also climbed to nearly $2 billion. Recently, even Pokémon has come to release NFTs, and 21Shares has applied for a SUI ETF. These tangible ecological advancements are not something air projects can compare to.
Key Levels for Long and Short Play
From a technical perspective, right now $3 is like the red flag in the middle of a tug-of-war. If it holds, it may challenge the previous high of $3.7, or even touch the $4 resistance. However, if the bears break through $2.75 (the 100-day moving average support), the 'discount price' of $1.6 is also a possibility. The RSI indicator is approaching the overbought zone, so be cautious when chasing highs in the short term.
Big G's Trading Suggestions
Spot Traders: Gradually buy below $3, hold for ecological dividends
Contract Players: Keep a close eye on the $3 long-short dividing line, set stop-loss to prevent spikes
Everyone pay attention: Recently there has been a surge in fake airdrop scams, do not click on any links outside official channels!
Opportunities are fleeting, a pullback is imminent, it's time to accumulate spot positions, and the altcoin profits are waiting for you! Doubling your investment is not a dream; click on my profile picture to follow me and join the bull market feast!
