The SUN cryptocurrency shows strong potential, but current momentum is bearish. Technical indicators like MACD and RSI point to downward pressure, and open interest is significantly declining. While a recent buyback and burn program by SUNPerp offers a positive structural change, its impact depends on increased trading volume and user retention.
Increased social media activity, including interest from prominent figures, is noted, but current price action reflects trader caution rather than enthusiasm. A significant price drop ("capitulation") or a reversal could occur if buybacks effectively reduce the circulating supply.
Short-term prospects appear bearish, but sustained protocol revenue and deflationary pressure could rapidly shift market sentiment. For detailed trading strategies and on-chain analysis, further information is needed.
