๐จ $SUI Short Liquidation Alert!
A whopping $20.05K short position got liquidated at $4.85, hinting at bullish strength! This could be the beginning of a significant move in $SUI. Here's what you need to know and how you can trade this!
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๐ Current Market Analysis
Price Movement: The liquidation at $4.85 shows bulls are pushing the price higher, squeezing out shorts.
Support Zone: $4.70 is acting as a strong base.
Resistance Zone: $5.00 is a key psychological and technical barrier.
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๐ฎ Whatโs Next for $SUI?
The short squeeze has increased buying pressure, which could lead to a breakout. However, caution is needed as resistance at $5.00 could create selling pressure.
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๐ฅ Trading Plan for $SUI
๐ BUY ZONE:
Aggressive Entry: $4.80 - $4.85 (on dips for quick trades).
Safe Entry: $4.70 - $4.75 (near solid support for safer trades).
๐ฏ TARGETS:
1. Short-term: $5.00
2. Mid-term: $5.20
3. Long-term: $5.50
๐ก๏ธ STOP LOSS:
Place your stop loss at $4.60 to protect your capital if the price turns bearish.
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โก Key Indicators to Watch
Volume: A breakout above $5.00 needs strong buying volume to confirm bullish momentum.
RSI: Overbought levels above 70 might signal a pullback; stay alert.
Moving Averages: Keep an eye on the 50-day MA for support in case of a retracement.
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Final Thoughts
If $SUI breaks above $5.00, it could trigger FOMO buying, pushing it toward $5.50. However, a rejection here might lead to a retest of the $4.70 support. Trade smart, manage your risks, and follow your plan!
๐ฌ Do you think $SUI will smash through $5.00? Let me know your thoughts below!
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