On-chain data erupts
Price is playing dead
SUI's explosion is just a spark away!
News Front: The ecosystem is fierce like a tiger, but the price is slow like a turtle.
Stablecoin Surge: SUI on-chain stablecoins skyrocketed from 400 million to 1.2 billion on January 4, user trust and capital influx are solid, but the coin price hasn't fully reflected this growth.
TVL breaks into the global top three: Total locked amount surged to $1.8 billion, crushing most non-EVM chains, lending protocol SuiLend skyrocketed 90% in a single month, explosive on-chain profit effect.
Whales are quietly positioning: Institutions like Galaxy Digital are discreetly accumulating, SUI spot is continuously seeing net outflows, suspected to be a wash trading for the next surge.
Technical Aspect: Defend the support zone, breaking 3.3 will take off.
Key Position: Current price at 2.75 is closely tied to strong support, holding it could lead to opportunities; above 3.3 is the boundary between bull and bear, breaking it will trigger shorts liquidation, targeting $4.
Indicators at odds: MACD golden cross with increasing red bars, but RSI only at 41, volume fluctuates, indicating a tug-of-war between bulls and bears.
Historical Script: It previously bounced three times around $2.8, if it stabilizes this time, it may replicate the 70% surge in a single week in May.
Operation Summary
Spot Party: Accumulate in batches at 2.65-2.78 on dips, stop loss below 2.65, increase positions on breakout above 3.3.
Contract Party: Don't chase long positions before breaking 3.3, catch rebounds at support levels on sharp declines, and keep stop losses tight.
Ambush Party: Waiting for tonight's U.S. 4-week Treasury yield announcement, if lower than expected, macro positives may become the ignition for SUI!
On-chain wealthy are frantically depositing, yet the coin price remains stagnant—trap or golden opportunity?