SUI is currently consolidating around $1.35. The price has just rebounded after a big dump from around $1.60 and is now above the short-term moving averages—the 7-day and 25-day moving averages are both at 1.348. However, the problem is that the 99-day moving average is still hanging high at 1.475. Until this long-term moving average is regained, the overall trend remains bearish.

In the short term, there are indeed some signs of recovery, but to say that the trend has reversed? It's still too early.

Looking down, 1.30 is a key support level ( which recently touched the low point of 1.3039). If it falls below here, the next landing point might be in the range of 1.20-1.25. On the upside, the first resistance is the 99-day moving average near 1.47, and above that is the recent high point area of 1.50-1.60.

It is worth noting the trading volume: there was a significant increase in volume during the big dump, and now the volume has decreased during the rebound phase. This small rebound indeed indicates that funds are entering the market to take up positions, but the strength is still not enough. To truly reverse the trend, we need to see if it can break through those key resistance levels with an increase in volume.

At this position, to put it simply, we are just waiting for direction. Either we break out with increased volume to recover the moving average system, or we lack the strength to continue to probe for new bottom support.