$SUI Short Liquidation: $59.4K at $4.710!
Details:
Type: Short Position Liquidation
Liquidated Amount: $59.4K
Price Level: $4.710
What Happened?
SUI’s price surge forced short sellers to cover positions,
resulting in $59.4K worth of liquidations. This added buying pressure, fueling bullish momentum and driving prices higher.
What’s Next?
1. Key Levels to Watch:
Resistance: $4.75 – A breakout above this could target $5.00.
Support: $4.60 – Holding this level is vital to maintain the bullish trend.
2. Market Sentiment:
Bullish: Strong buying pressure and short liquidations favor the bulls.
Next Target: Sustained momentum may push SUI to test $5.00.
3. Action Plan for Traders:
For Buyers: Look for consolidation near $4.70 for lower-risk entry points.
For Sellers: Wait for rejection signals near $4.75 before attempting to short.
Conclusion:
SUI's price rally shows strong bullish dominance,
with short liquidations amplifying gains. Focus on $4.75 resistance and $5.00 potential, but trade cautiously to manage volatility!