After a year of decline, $SUI has now entered a quiet sideways trading period. Looking at the charts, the price is fluctuating around $0.68, almost flat over 24 hours, and has only gradually declined from $0.76 to $0.68 in the past 30 days, without any clear directional movement. However, what's more noteworthy is the trading volume – in mid-July, it was in the 50M-70M range, but by August it had expanded to 130M-170M. This volume-price relationship suggests not the absence of a story, but rather that funds are waiting to choose a side.
For me, the significance of the $0.68 level lies not in its support level, but in its role as a structural line. A break below $0.63 is highly probable for further declines, while a hold above $0.70 and a subsequent pullback would constitute initial strength. The real question mark lies in the fact that if it were simply bottom accumulation, there would usually be clear buying support during a volume surge, not this high volume with narrowing price fluctuations.
Therefore, if trading volume continues to increase, $SUI has a chance to form a bottom in this area; if the pullback does not break the key range, the bottom structure remains valid. However, the drop from $5.35 to $0.68 on $SUI did not produce a decent rebound, and the overall trend remains on the verge of decline. A coin stuck at $0.68, with increased trading volume but still not choosing a direction, raises the question: is the market waiting for it to bottom out, or is it waiting for it to be repriced? This contradiction is more difficult to answer than simply looking at whether it will rise or fall.
For me, the significance of the $0.68 level lies not in its support level, but in its role as a structural line. A break below $0.63 is highly probable for further declines, while a hold above $0.70 and a subsequent pullback would constitute initial strength. The real question mark lies in the fact that if it were simply bottom accumulation, there would usually be clear buying support during a volume surge, not this high volume with narrowing price fluctuations.
Therefore, if trading volume continues to increase, $SUI has a chance to form a bottom in this area; if the pullback does not break the key range, the bottom structure remains valid. However, the drop from $5.35 to $0.68 on $SUI did not produce a decent rebound, and the overall trend remains on the verge of decline. A coin stuck at $0.68, with increased trading volume but still not choosing a direction, raises the question: is the market waiting for it to bottom out, or is it waiting for it to be repriced? This contradiction is more difficult to answer than simply looking at whether it will rise or fall.