The price of SUI has recently experienced significant fluctuations, attracting market attention. The latest quote is approximately $3.6049, having fallen 8% below the 200-day MA and reached the lower band of the Bollinger Bands. The Relative Strength Index (RSI) has dropped to 11, marking a historic oversold level, indicating that the market may be nearing a short-term bottom.

In the contract market, the open interest has decreased by 3.92% within 24 hours, and the long-short ratio has dropped from 3.11 to 2.95, indicating that bearish strength remains dominant, but a rebound triggered by short covering may occur in the short term.

From the price structure perspective, there is significant selling pressure in the price control (POC) area at $3.969. The main high volume nodes (HVN) are at $3.83-$3.88 and $3.94-$4.00, which could become resistance levels for a short-term rebound. The $3.53-$3.55 range is a low volume node (LVN), and if the price retraces to this range without falling below, it could become an ideal entry point for bulls.

The current price has fallen out of the 70% value range (3.678-4.229 USD), further confirming the short-term Oversold condition. However, there is still 58% of the downward trading volume in the POC area, indicating that sellers remain dominant. If the upward trading volume near the 3.53 USD LVN exceeds 60%, it can be seen as a bullish confirmation signal.

From the perspective of the market cycle, SUI has fallen below the medium-term rising channel and is currently in the "high volatility weakening" phase. The short-term RSI and open interest are rapidly declining, which may indicate that panic sentiment is nearing its end, creating conditions for an oversold rebound.

For traders, an aggressive strategy may consider setting a long position near 3.535 USD, with a stop-loss at 3.480 USD and a target price of 3.830 USD, yielding a potential risk-reward ratio of approximately 2.5. A conservative strategy suggests waiting for a 15-minute closing price to break through 3.678 USD with increased volume before entering, with a stop-loss at 3.630 USD and a target price of 3.969 USD (POC), yielding a potential risk-reward ratio of approximately 2.1.

However, investors should note that if the price falls below $3.48 and the 15-minute downward trading volume exceeds 60%, it may indicate the establishment of a bearish trend, at which point it may be necessary to consider switching to a short strategy, with the target price set at the LVN of $3.30.

For liquidity providers, it is recommended to place bidirectional orders within the range of 3.48-3.83 dollars to earn trading fees and funding rate revenue. A hard stop loss can be set at 3.48 dollars, and positions can be gradually reduced as the price approaches 3.83 dollars, taking advantage of the price difference between LVN and HVN due to liquidity disparities.

Overall, although the current price of SUI has fallen significantly, it has also brought potential rebound opportunities for short-term traders. However, considering the uncertainty of the market, investors need to remain cautious when formulating trading strategies and strictly implement stop-loss measures.