Alright team, let's break down this juicy $SUI chart and see what's cooking. The potential here is monumental, and the technical setup screams long-term accumulation.
### Technical Analysis: Long-Term Reversal
Analyzing the 1W chart, we clearly see the completion of a textbook Double Bottom pattern, which is a powerful long-term bullish reversal signal. The chart shows the price found rock-solid support exactly on the long-term rising trendline and the critical horizontal support zone around $1.33 - $1.40 (Bottom 2). The current price action near $1.96 confirms the completion of the 75% correction wave, indicating the start of the next impulsive move. Failure to hold the $1.33 level would invalidate this macro structure, but as long as we maintain this base, the path to the primary target remains open.
### Fundamental Tailwinds
Fundamentally, SUI is hitting its stride. The ecosystem is experiencing rapid growth in Total Value Locked (TVL) and developer activity, bolstered by recent scalability upgrades that showcase its high-performance blockchain architecture. Its unique parallel execution model and Move language focus make it a strong contender in the high-speed Layer 1 space, attracting significant interest, especially in gaming and DeFi applications.
### Action Plan
This setup provides an excellent accumulation opportunity for patient holders. My long-term outlook targets the major resistance level at $10.37, marked as the potential cycle peak (2026). Start building positions in the green support zone. We are positioned for liftoff.
Highly recommend HOLD and Stacking $SUI at Binance
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