Last week's price trend of SUI displayed a typical 'holiday effect'. As global trading volume shrank during Christmas and New Year, SUI's price mainly fluctuated within the range of $1.43 to $1.44. According to MEXC's market data, SUI initially followed Bitcoin's decline by about 1.79% at the beginning of the week, but subsequently showed strong resilience, not further breaking below the psychological support level of $1.40.
Technical analysis indicates that the current consolidation is the calm before the storm. Market volatility has dropped to a low point, which is usually a precursor to a significant market movement. For short-term traders, the current strategy should focus on 'range trading', seeking support buy around $1.40 and taking profits at the resistance level of $1.48. If Bitcoin can break through the $90,000 mark after the New Year, SUI is very likely to end its consolidation and welcome a wave of recovery.
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