Alright team, let's break down this juicy $SUI chart on the weekly timeframe. After a needed cool-off period, we have successfully hit a critical accumulation zone.
### Technical Analysis
The chart confirms that $SUI is successfully holding its long-term ascending trendline support, currently sitting firmly in the $1.60 - $1.50 region. Bulls successfully defended this area, suggesting strong buyer conviction. As long as this major trendline holds, the path of least resistance is up, targeting previous major highs. We are ultimately setting our sight on the ambitious but achievable long-term target of $9.95 outlined in the chart. A major breakdown below $1.50, however, would invalidate this setup and suggest a retest of the next support floor at $0.46.
### Fundamental Strength
Fundamentally, SUI continues to impress, rapidly expanding its ecosystem footprint with increasing Total Value Locked (TVL) and robust DApp development. The network's unique, highly scalable architecture (powered by the Move language) positions it perfectly for enterprise and mass gaming adoption, providing continuous long-term utility growth that should drive price appreciation.
### Action Plan
This powerful technical alignment with strengthening fundamentals presents a high-risk, high-reward buying opportunity. I am scaling into this position here at support. Patience will be key as this is a weekly chart setup targeting significant upside.
Highly recommend HOLD and Stacking $SUI at Binance
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