Ah, the tale of Sui [SUI], a cryptocurrency that has been shedding its value faster than a dog sheds fur in summer! In the past week, it has taken a dive into the abyss, losing double-digit percentages as if it were a contestant in a diving competition. All this while, Bitcoin [BTC] has been on a rollercoaster ride, plummeting to a dizzying $60k before bouncing back to $72k-only to tease us with yet another descent. It’s like watching a soap opera where every episode ends in a cliffhanger!
SUI, bless its digital heart, couldn’t escape the gravity of the market’s collapse. The poor thing tried to break through the sturdy psychological barrier at $1 over the weekend but found itself thwarted by the same old selling pressure, as predictable as a cat knocking over a vase. And what do you know? It slipped below the local support zone of $0.965, signaling that the bears are sharpening their claws for the next downward price plunge. Who could have seen that coming?
Assessing the long-term SUI trend
The long-term trajectory of SUI is as clear as mud. It hasn’t managed to convincingly breach the lofty May 2025 heights of $4.3. Instead, it performed a swing failure maneuver-how original! This resulted in a series of lower lows, and by the end of October, fear and panic sent the swing structure tumbling down like a house of cards.
The rally in early January was like a cruel joke, ending at $2 and reminding us all about the dreaded round number resistances. Selling pressure has been heavier than a hippo on a seesaw ever since, with the CMF on the daily chart lingering below -0.05 for three weeks-oh, the drama of capital fleeing like it just heard a horror story!
Rejection at $1 illuminates the next move
Now, let’s gaze into the crystal ball of the 4-hour chart, which reveals that a price of $1.02 rolled up as the 61.8% retracement. But alas, Monday came along and decided to play the villain, shifting the internal SUI price structure bearishly. It’s as if someone whispered, “Let’s resume the bearish trend!” and everyone went along with it!
If SUI manages to crawl back above $1.02, it might just be a signal to traders to cut their losses and flee like they’ve spotted a ghost. Surpassing the local high at $1.16? Now that would be a plot twist worthy of a blockbuster-but let’s not hold our breath, shall we?
Traders’ call to action – Sell
As it stands, the local lows at $0.788 are the targets for this ongoing downtrend, with $0.70 lurking as the next extension target. Traders, keep your eyes peeled on Bitcoin! If BTC decides to bounce beyond $72k, it could spell disaster for Sui short sellers, unleashing uncontrollable volatility. Grab your popcorn, folks-it’s going to be a wild ride!
Final Thoughts
- SUI’s long-term trend is as bleak as a rainy day, with the loss of the psychological $1-level indicating a continuation of this delightful descent.
- The rejection at the fabled $1-level over the last 48 hours has allowed traders to take short positions, because who doesn’t love a little chaos?
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2026-02-10 10:26