The price of SUI token has retraced to the level of 2.9 USD. This trend appears to be a fall on the surface, but in reality, it seems more like a phase of market consolidation. From on-chain data, there are no signs of large capital withdrawal; on the contrary, the number of wallet addresses continues to grow, and capital inflow remains stable.

Currently, the price pullback after such a strong sideways movement is likely a necessary process for the market to cleanse short-term speculators. From a technical analysis perspective, once the overall market sentiment improves, SUI is likely to see a significant rebound.

The current price level may be a reasonable time to enter the market. Waiting for the price to clearly break through key resistance levels before entering may result in missing the best buying point. The market is in an accumulation phase, and investors can make judgments based on their own risk tolerance.