Alright team, let's break down this juicy $SUI chart and see what's cooking. The recent market volatility shook out weaker hands, but the underlying trend structure is holding strong.
Technical Analysis
We are analyzing the $SUI daily chart, where the price successfully tested and held the lower boundary of its major ascending Support Zone (currently around $1.45 - $1.60). This sharp wick reversal validation is extremely bullish, suggesting strong accumulation is occurring at these trendline levels. This successful defense of the macro trendline sets up the highly ambitious, long-term Target (@TARGET) near $9.9545. Traders should use the current price range as a scaling-in area. A definitive breach of the support zone would potentially send us toward the ultimate horizontal support at $0.4609, but currently, bulls are fully in charge.
Fundamental Analysis
On the fundamental side, the Sui ecosystem is showing impressive resilience and rapid growth. Recent network upgrades have continued to enhance performance and lower transaction costs, positioning SUI strongly against other high-throughput Layer 1s. Specifically, strong momentum in its native DeFi and gaming sectors continues to attract developers and increase Total Value Locked (TVL), validating the platform's long-term utility.
Action Plan
The bounce confirms the continuation of the macro uptrend. I am aggressively looking for entry opportunities upon consolidation above $1.70, targeting significant upside potential based on this strong structural foundation.
Highly recommend HOLD and Stacking $SUI at Binance
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