Currently, SUI shows characteristics of a bottoming volume, indicating that funds are actively absorbing chips. This round of decline can be seen as a digestion process of the previous downward momentum, and the pullback space instead provides an opportunity for low-level accumulation.
From a structural perspective, the price is currently in the second wave of the downward trend. If it can effectively break through the current fluctuation range, it is expected to form a unilateral breakout trend, which is usually accompanied by a weak pullback.
According to the principles of this pattern's evolution, the price may still need to complete the last segment of fluctuations before achieving a breakout; a direct and rapid breakthrough is quite challenging, but if successful, it is expected to initiate a reversal trend at least equivalent to the scale of a double top. A larger potential positive factor lies in the regulatory outlook: the current market expects that the probability of the SEC approving SUI-related ETFs exceeds 60%.
