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#sui SUIUSDT
Perpetual 2.4286 +7.22%
The chart shows a recent downtrend and consolidation while presenting a potential bullish reversal scenario. The initial downtrend from $2.4200 and the subsequent drop to $2.2718 may represent a period of correction and accumulation. The repeated consolidation indicates a possible bottoming pattern, with the current price at $2.2787 suggesting potential stability.
This series of consolidations can be interpreted as a foundational phase before a potential upward move. If the price breaks through the consolidation range, particularly the resistance level at $2.3334, it could confirm a bullish trend reversal. This bullish outlook is further supported by the current price's slight increase of 0.17%, indicating that momentum is building. A breakout from the consolidation will signal a potential retest of previous highs.