$SUI Liquidation Alert
A significant $195,000 long position was liquidated at the price of $3.609, signaling strong selling pressure in the market.
This event indicates that many traders may have been caught off guard by a sudden price drop.
Analysis and Next Steps:
• Current Trend: The liquidation suggests bears are currently dominating, and there could be further downward pressure if the sentiment persists.
Key Levels to Watch:
• Support: $3.50 – if this level holds, we might see a rebound.
• Resistance: $3.65 – breaking above this could shift momentum back to the bulls.
Next Move:
Traders should wait for confirmation at the support zone before considering long positions.
However, a breakdown below $3.50 could open the door for short opportunities.
Pro Tip:
Use tight stop-losses and monitor volume spikes to identify potential reversals.
Stay cautious in this volatile phase.
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