$SUI Long Liquidation: $5.8615K at $5.20143
A massive long liquidation just occurred with $5.8615K worth of positions liquidated at $5.20143.
This sharp sell-off highlights market stress, as long positions are forced to exit due to a price reversal.
Key Levels:
Support: The $SUI price is testing the $5.00 area, a potential strong support level. If this holds, we might see stabilization or a bounce.
Resistance: Immediate resistance is around $5.50, with stronger resistance at $5.80.
What's Next?
Bearish Scenario: If $5.00 fails to hold, further liquidation could push prices down to the $4.80 zone.
Bullish Reversal: A bounce above $5.50 may indicate buying interest, with a possible move back toward $5.80 and higher.
Stay vigilant! The market's next move depends on how it reacts to these support levels.
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