SUI has been continuously oscillating downward in the evening, with a minimum touching around 2.65, and the overall trend remains weak. However, from the hourly perspective, after the decline, there has been a slight pullback, temporarily halting the downward momentum. The key support level at 2.6 needs to be closely monitored to see if it holds.
At present, the hourly SAR indicator has shifted above the K line, indicating a weakening of short-term bearish momentum.
The 4-hour price is still running below the BBI, but there are initial signs of a stop in the decline.
From the daily perspective, although the overall trend is bearish, the bottom W pattern is starting to take shape. If it can stabilize with increased volume, there could still be opportunities for a rebound.
From a technical perspective, the lower Bollinger Bands on the 4-hour and daily charts are flattening, indicating that the market is entering a phase of narrow oscillation and accumulation. Although the MACD remains bearish, the green bars are shortening, suggesting a potential for a rebound in the short term. However, caution is still needed regarding the resistance brought by large bearish candles with increased volume.
