SUN Technical Analysis Feb 24

SUN’s 24-hour trading volume remains low at 1.62 million dollars, with volume drying up in the downtrend giving accumulation signals. Market participation is weak, but low-volume declines indicate decreasing selling pressure.

Volume Profile and Market Participation

SUN’s current volume profile is trading below average levels with a 24-hour trading volume of 1.62 million dollars. This indicates low market participation; especially in the downtrend where the price declined by 1.73%, the muted volume reflects that the broader masses are not joining the selling. While the average daily volume in recent weeks has been around 2-3 million dollars, today’s level is 40-50% lower. This situation signals that retail investors are staying on the sidelines and institutional players are remaining silent. In the volume profile chart, the Value Area Low (VAL) level concentrates at $0.0172 near the $0.02 resistance area – this is a strong support zone. For a healthy upside in terms of market participation, volume must increase by at least 50%; the current low participation is limiting volatility and may be laying the groundwork for a trend reversal.

Accumulation or Distribution?

Accumulation Signals

Low-volume declines are a classic indicator of the accumulation process: As the price slips below $0.02, the volume dry-up shows no aggressive selling. With RSI at 37.64 approaching oversold and volume decreasing, it supports bottom-picking activity. In MTF volume levels, there is 1 support level each in 1D and 3D timeframes – around $0.0158 as a potential accumulation zone. Traces of institutional whales increasing spot purchases recently (according to on-chain data) imply hidden buying pressure in this low volume. If volume increases at the lows, accumulation is confirmed.

Distribution Risks

Distribution risk is low; because we are not seeing volume increases on upmoves – on the contrary, there is no volume explosion in rejections at the $0.0183 resistance. However, as BTC dominance rises, there could be hidden distribution in altcoins like SUN. In the 1W timeframe, there are 2 resistance levels ($0.0172-$0.0165), and without a high-volume breakout, it could lead to distribution. With MACD neutral and histogram at zero, sudden volume spikes could signal a distribution trap.

Price-Volume Confluence

Although the price is in a downtrend with Supertrend bearish and below EMA20 ($0.02), volume is not confirming the price: Volume remains low on declines, which is a “weak bear” signal. For a healthy bear trend, we would expect high volume on declines, but here there is divergence – price falls, volume decreases. This indicates the trend is exhausting and increases reversal potential. The bearish target of $0.0131 (score 22) is not reachable with weak volume; volume confirmation is required for the bullish $0.0192. The lack of volume confirmation shows the price is moving alone – the volume story says the bearish outlook is exaggerated.

Big Player Activity

Big players (institutional) are quiet: Volume profile shows weak upper tails, slight concentration in lower tails – whale buys may be hidden at dips. In MTF, there are 11 strong levels (total 4S/9R), balanced distribution in 1W implies institutional consolidation. Whale accumulation traces are increasing in SUN Spot Analysis, while long/short ratio is neutral in SUN Futures Analysis. Big player activity is hidden in low volume; sudden spikes should be monitored.

Bitcoin Correlation

With BTC at $63,073 down -4.02% and Supertrend bearish; SUN is highly correlated with BTC (0.85+), general pressure dominates altcoins. If BTC supports at $62,910-$60,024 are not held, SUN slips to $0.0158. If resistances at $64,632 break, expect volume increase in SUN – BTC dominance decline triggers alt accumulation. With BTC bearish, SUN’s low volume shows local strength; BTC below $60K is risky.

Volume-Based Outlook

Volume-based outlook is neutral-bullish leaning: Low participation weakens selling, wait for $0.0158 for accumulation. If volume increases 50%+, target $0.0192; otherwise, $0.0131 risk. Volume story: Price decline is a bluff, participation increase is the reversal key. Attention: Volume confirms healthy upside.