Sunday Technical Analysis February 1, 2026: S…

SUN token continues its strong downtrend on the daily chart, approaching the critical support zone at $0.0170 and giving oversold signals on RSI – is this opening the door for a potential rebound or is it a trap?

Market Outlook and Current Situation

SUN (Sun token) is trying to stabilize at the $0.02 level on the daily timeframe under general crypto market pressure. Although it recorded a modest 1.40% rise in the last 24 hours, volume remained limited at $4.97 million while the trend structure exhibits a clear bearish character. The price is stuck in the $0.02 range over the 24-hour period, and this narrowing indicates low volatility. Bitcoin’s 1.21% decline across the market is narrowing SUN’s room to maneuver due to correlation with altcoins. With no significant news flow, it creates an environment where technical levels take center stage.

From a long-term perspective, SUN has remained below EMA20 ($0.02) in recent weeks, and the Supertrend indicator continues to produce bearish signals. In multi-timeframe (MTF) analysis, a total of 14 strong levels were identified across 1D, 3D, and 1W charts: 2 supports/4 resistances on 1D, 2/2 on 3D, and 2/3 distribution on 1W, with high confluence. This structure shows that the price is maintaining downward momentum while laying the groundwork for potential consolidation. Investors can review SUN spot analysis details to evaluate their positions.

SUN’s mid-sized altcoin status in terms of market cap and liquidity makes it susceptible to speculative moves. Although daily closes are around $0.02, the declining volume provides clues that selling pressure may be exhausting. Despite the overall crypto sentiment being in a downtrend, SUN’s low RSI puts short-term relief rally potential on the table.

Technical Analysis: Key Levels to Watch

Support Zones

The most critical support zone is positioned at $0.0170, showing extremely strong confluence with an 81/100 score. This level overlaps with the 61.8% fib retracement from recent lows on the 1D chart, gaining additional confirmation from 3D and 1W timeframes. A second test of $0.0170 (75/100 score) could come into play in a potential breakdown scenario – volume increase will be decisive here. If these supports break, a deeper correction could open the door to $0.0150, but the current MTF structure positions this zone as a strong base.

The strength of the support zones aligns with the lower band of SUN’s decline channel over recent months. Historically, around $0.0170 has been tested multiple times and held, forming a psychological base. Traders should follow SUN futures analysis for long positions at these levels.

Resistance Barriers

The first resistance emerges at $0.0177 (67/100 score), squeezed between EMA20 and Supertrend resistance. Followed by $0.0183 (66/100) and $0.0194 (67/100) – these form two of the 4 resistances concentrated on 1D. Breaking these barriers could trigger short covering, but the bearish Supertrend limits this possibility. Resistance confluence from 3D and 1W makes $0.0194 a key pivot.

The strength of the resistances emphasizes that an upward breakout requires extra volume. These levels have rejected in recent tests, and the channel upper band could challenge $0.0200 – however, this scenario is low probability with current momentum.

Momentum Indicators and Trend Strength

RSI (14) stands at 34.01, close to the oversold region, signaling that selling pressure has become excessive and laying the groundwork for potential divergence. On the daily chart, RSI is making higher lows at the recent bottom while price makes lower lows – bullish divergence early signal. MACD maintains a bearish crossover with a negative histogram, showing slowdown in histogram narrowing despite weakness below the signal line.

EMAs are in bearish alignment: Price below EMA20 ($0.02), distancing from EMA50 and EMA200. Supertrend has flipped bearish, highlighting $0.02 resistance as a trailing stop. On MTF, 1W Supertrend confirms downtrend, but 3D shows slight flattening. While overall trend strength is downtrend, momentum indicators are opening the door for short-term recovery – volume confirmation required.

In volume profile analysis, the $0.0170-$0.02 range shows a high node; this POC (point of control) level is critical for consolidation. OBV (on-balance volume) decline confirms selling flow, but the slight increase in the last 24 hours is noteworthy.

Risk Assessment and Trading Outlook

SUN’s outlook is between bearish neutral in the short term; if $0.0170 support holds, a bullish target of $0.0232 (28/100 score) could come into play, though low probability. From a risk/reward perspective, longs should wait for support breakout – R/R 1:2 potential to $0.0194 target. In a bearish scenario, support breakdown could lead to deep losses, with stop-losses pulled below $0.0165. With low volatility, SUN spot market efficiency is increasing for options or futures.

Overall risk: High correlation with BTC downtrend and low volume. Positive scenario 30% probability, negative 50% – wait-and-see strategy recommended for balanced portfolios. In the long term, ecosystem developments (none currently) could change the trend.

Bitcoin Correlation

Altcoins like SUN are highly correlated (0.85+) with BTC price action; BTC’s downtrend at $77,086 is pressuring SUN. BTC supports at $75,720, $64,655, and $58,878 should be watched – if $75,720 breaks, SUN tests $0.0170. Resistances at $77,957, $80,693, $84,348; with BTC Supertrend bearish, altcoin rallies are limited. BTC’s 1.21% decline overshadows SUN’s 1.40% rise – BTC stabilization would give SUN breathing room.