The recent technical formation of SUI is worth following. From a data layer perspective, this wave of adjustment has indeed shown some warning signals.

**Technical Status**

The price is significantly suppressed at the moving average of $1.4537, and the trend structure points downward. This is not just a simple pullback; the long liquidation data reflects the real predicament of market participants — the long liquidations reached $968,000 within 24 hours, while the shorts only amounted to $85,000, a disparity of 11.4 times. This extreme imbalance in liquidation distribution often indicates a significant divergence in the participants' perception of the direction.

**Contradiction of Market Sentiment**

Interestingly, the views between exchanges are completely opposite—77% of traders are bullish on one leading contract platform, while 83% are bearish on another platform. When retail investors hold opposing views, the candlestick charts have already provided a cold answer: continue to probe the lows.

**Current Trading Logic**

In a clear downtrend structure, any technical rebound is likely to become a new short entry point, and the risk of bottom-fishing is much higher than the expected return. SUI is currently in such a critical position.

If it continues to decline, the key support levels are around $1.400 and $1.3450. The performance in these ranges will determine whether a true bottom signal is formed. The essence of trading is a game of probabilities, and during this cycle, operations that follow the trend have a significantly higher win rate.