When panic meets value, smart money is quietly positioning itself
News analysis:
Bearish pressure: On June 19, SUI's price fell below the key level of $3 to $2.75, mainly due to selling pressure from token unlocks combined with withdrawal from the derivatives market, with shorts accounting for as much as 55%. On-chain activity has also collapsed, with daily trading volume halved to 9 million transactions, user accounts plummeting by 80%, and the market worries that the previous increase was purely speculative.
Ecological rebound: Hidden heavyweight good news under bearish conditions — the supply of SUI's stablecoin has surged 200% in six months to $1.2 billion, TVL soared to $1.8 billion, and the lending protocol SuiLend's monthly TVL skyrocketed by 90% to $600 million, with institutions betting on ETF applications being approved.
Key technical level:
Death line at $2.68: Current price $2.83 is closely tied to strong support, daily chart shows a 'descending triangle'. If it breaks down past $2.68 with volume, the next target is $2.24.
Reversal signal at $3.30: MACD shows a bearish cross below zero, but RSI is approaching the oversold area. Once it breaks through $3.30 with volume, it will trigger a short squeeze, with a short-term target of $4.0 and a medium-term challenge to the previous high of $4.298.
Precise Strategy: When others panic, I am greedy
Bottom fishing takes two steps:
① Hold at $2.80 to try a position (30%): Current price $2.83 lightly positions, stop loss set at $2.75;
② Break at $3.30 to increase position (50%): After breaking, buy on a pullback that does not break, target $3.80~$4.20.
