Sui has been under intense selling pressure following its recent peak, resulting in a consistent slide through several local levels. The price action currently shows a steady descent as it searches for a definitive bottom to halt the bleed. We are seeing market participants hesitate as the asset nears a historical area of interest.

$SUI is quickly approaching a vital support zone between $1.01 – $1.03. This range is the primary defense line for bulls because it previously acted as a strong accumulation floor that launched a significant rally. Maintaining this territory is the only way to keep the current mid-term structure from falling into a full macro breakdown.

The play centers on how price reacts to this $1.01 – $1.04 demand pocket. If we see a successful hold and a bounce from here, the next objective is the overhead resistance between $1.21 – $1.23. However, a clean break below this support would likely open the doors for a deeper correction toward much lower liquidity zones.

Overall, the current momentum is heavily favored by the sellers as evidenced by the unbroken downward slope. While the support zone offers a potential reversal point, there is no technical confirmation of a trend shift yet. Stay alert for a potential trap and wait for a clear change in character before considering a position.

#sui #Altcoin Season# #Macro Insights#