We are accustomed to the fact that impulsive growth is often followed by a correction. But when the price drops below all significant moving averages on the daily timeframe, the question is no longer whether there will be a rebound, but how strong the selling pressure will be.
Looking at the daily chart of SUI, we see a classic picture of a prolonged downtrend. The price confidently trades below EMA 7 (0.9499$), EMA 25 (0.9653$), and especially far below the long-term EMA 99 (1.2508$). All these lines currently act as dynamic resistance levels, forming a ceiling for any recovery.
The market pulse, measured by RSI, is in the weakness zone (around 38-43), confirming the lack of buying power. With this setup, the current halt at the lows does not look like a reversal, but rather a dangerous pause — the calm before a potential continuation of the decline if the 'floor' does not hold.
However, this is where the main intrigue lies. The level $0.9212 (minimum 24h) — is a critical zone. If buyers can defend this threshold and push the price above $0.95, we will see the first attempt to tighten the knot of the averages.
If we consider a possible scenario (provided support holds):
· Entry (long): $0.928 – $0.935 (upon confirmation of the reversal on small timeframes and a return above the local minimum).
· Targets: TP1 — $0.950 (test EMA 7), TP2 — $0.965 (test EMA 25).
· Stop: $0.915 (a logical level below the current floor; its breakout will open the way to new lows).
The market now resembles a situation where a ball is falling and is about to touch the floor. The rebound can be sharp, but if there is no floor — the decline will continue.
Do you think buyers will hold the level $0.92, or will we see a new wave of sales breaking this zone?