$3 is not the bottom
But rather a launching pad for bears
SUI technical indicators have turned red
But the trump cards of the news are not yet played out
Technical aspect: Bears are fully in control
Key level breached: The four-hour chart for SUI has confirmed a break below the $3.30 watershed, currently struggling at the $3 edge, if it cannot recover to $3.10 within the day, the next stop will head straight for the 2.57 Fibonacci support.
Indicators have collectively turned against us:
The Bollinger Bands are opening downward, volatility is surging, indicating an acceleration of the decline;
MACD death cross has not turned red, green bars continue to extend, with no signs of weakening bearish momentum;
Cloud system prices are sinking below the cloud, the conversion line has crossed below the baseline, resulting in a double kill in short to medium-term trends.
News aspect: The battle between bulls and bears is intensifying
Negative news attack: The foundation has been exposed for using 'locked tokens' for staking and mining, selling about 27 million SUI rewards monthly, equivalent to a 20% inflation dilution of the circulating supply! KOLs harshly criticize insider trading, triggering a crisis of trust.
Ecological support: On-chain data is strengthening against the trend—TVL surged to 2.06 billion (70% monthly increase), total accounts broke 190 million (35% monthly active increase), SocialFi application RECRD has daily active users in the millions.
Operation summary: Focus on two trigger points
Escape point: $3.10 is the dividing line for bulls and bears, if it cannot rebound above, go short with a target of 2.57;
Buying the dip: If it drops to the 2.5-2.6 range and shows a volume-increasing reversal candlestick, one can cautiously enter for a rebound, quick in and out;
