Tenfold Potential Token $SUI : Should we bottom out now or stop loss?
SUI is currently still in the pullback cycle that started in May, and there has not yet been a clear reversal signal. Although there have been sporadic rebounds during this period, short-term pressure continues to suppress prices, and the downside risk has not been fully released.
The technical outlook shows that the pullback market is far from over. Ideally, the market needs to complete one last decline before building momentum for the subsequent rise. The current price has retreated from the May high and is testing the support level of $3.05 in the short term. If this level fails, it will directly test the key defense line at $2.79.
Based on market sentiment, before a true recovery begins, prices may explore new lows again. $3.38 has become the dividing line between bulls and bears. If SUI can strongly break through this price level, it will open up significant upside potential; conversely, bearish pressure may continue. It is essential to closely monitor the effectiveness of the breakthrough at this price level; only by stabilizing above this point can a trend reversal be confirmed.
From a long-term perspective, SUI shows positive signals. Currently in a power accumulation phase, although prices are constrained by resistance zones, the market structure hides the possibility of a reversal. Once it breaks through the key resistance and confirms with a pullback, SUI is expected to enter a price discovery mode, with a long-term target aimed at the significant $10 mark.
To speak plainly, there are many opportunities in a bull market, but it is also an elimination round; the most important thing is to survive! It is still timely to pay attention to Xin Jie and get on board.