Considering $SUI /USDT's current trading situation, a strategic approach to shorting would involve:
Entry Point: With $SUI /USDT peaking around $1.8850, initiating a short position near the current price of $1.8811 is recommended.
Profit Target: Place a target at $1.8057, aligning with the earlier support level observed, to optimize return on investment.
Stop-Loss Strategy: To mitigate risk, set the stop-loss just above todayâs high, around $1.89.
Rationale: The decision to short at this juncture is based on the resistance formed near $1.8850, which suggests potential downward movement if this level holds firm.
This setup provides a concise trading plan, focusing on current market resistance and potential downward trends.
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