$SUI
As I mentioned earlier, we’ve seen a bounce off the support level ($0.5480), where I previously recommended considering averaging or building a spot position. The local support now lies at $0.74. Overall, the $0.74 - $0.54 range is an area of buyer interest, where you should consider accumulating spot positions as well!
Resistance is at $1.12 - $1, where a significant amount of liquidity is concentrated. It would be wise to consider opening short positions and partially locking in profits from spot positions at these price levels (as shown on the chart).
I will start buying the asset again in the overall zone of interest. Why? It's simple – the project has potential. How is it promising, and why does it have growth potential? Let me explain:
$SUI has become the top performer among the 100 largest coins by market cap over the past week, demonstrating strong market performance. Rumors suggest that Asian funds are buying SUI at a 60% discount through OTC deals, potentially using retail investors as liquidity for their exit. Korean retail investors are reportedly paying full price, and SUI has become the second most popular coin on the Upbit exchange. Additionally, SUI showing significant strength in the current market, with technical analysis indicating a strong pattern. Some traders are optimistic about its potential in the event of market growth. Trading volume for SUI has increased by 90% in the last 30 days, reflecting growing interest and activity around the token.
Therefore, we may realistically see a local rise in the asset towards the nearest resistance level for liquidity gathering, followed by a correction aimed at shaking out weak hands. As always, we’ll see how things play out. Wishing everyone profit!
