$SUI The token has seen significant action recently, with a long liquidation of $3.0737K occurring at the price level of $4.77055. This indicates bearish pressure and a possible price correction. Let’s dive into the details to understand the next potential moves and trading opportunities for $SUI.
Key Levels to Watch:
1. Current Trend: Bearish, as long liquidations often reflect strong selling activity.
2. Support Levels (Buy Zone): $4.30 – $4.50.
This range shows historical buying interest and could act as a rebound zone.
3. Resistance Levels (Target):
Short-Term Target: $4.80 – $5.00.
Mid-Term Target: $5.50 – $5.70.
4. Stop-Loss: $4.25.
Below this level, the bearish momentum might accelerate.
What’s Next for $SUI
Scenario 1: Bullish Reversal.
If the price bounces from the $4.30–$4.50 buy zone, it could target the $4.80–$5.00 resistance.
A breakout above $5.00 might push the price toward $5.50–$5.70, where further resistance lies.
Scenario 2: Continued Downtrend.
If the price breaks below $4.25, a deeper correction is likely.
The next support levels could be around $3.80–$4.00.
Trading Plan.
For Buyers:
Entry: Place buy orders in the $4.30–$4.50 zone.
Target: $4.80, $5.00, and $5.50.
Stop-Loss: $4.25 to manage risk.
For Sellers:
Consider short positions if the price fails to hold above $4.50.
Target: $4.00 or lower.
Pro Tips.
1. Monitor trading volume a rise in volume near support levels can confirm a potential bounce.
2. Stay updated with $SUI ecosystem developments or market news, as they can impact price action.
3. Use proper risk management don’t risk more than 2-3% of your capital on a single trade.
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