$SUI Recently experienced short liquidations worth $15.915K at a key level of $4.61585, which indicates that sellers were forced to exit their positions due to price movements.
This shows that bulls are gaining strength and could push the price higher.
Let's analyze and create a clear trading strategy:
Current Market Situation.
Short Liquidation Amount: $15.915K
Key Level: $4.61585 (this could act as a support zone if the price holds above it).
Market Sentiment: Bullish momentum is building after liquidations, suggesting potential upward movement.
Buy Zone.
Entry Point: $4.60 - $4.65
(Wait for price stability above $4.61585. This ensures you are buying during a bullish breakout.)
Target Levels.
1. First Target (T1): $4.80
(Safe exit to secure quick profits as the price rises).
2. Second Target (T2): $5.00
(Higher risk but good reward if momentum continues).
Stop Loss.
Set Stop Loss Below: $4.50
(Place the stop loss slightly below the current support zone to limit your loss if the trend reverses).
Important Tips.
1. Watch Volume: Ensure the buying volume increases before entering.
Higher volume confirms strong bullish momentum.
2. Use Risk Management: Never risk more than 2-5% of your capital on a single trade.
3. Check Resistance Levels: If $SUI struggles to break $4.80, consider exiting early to secure profits.
Summary.
Buy Zone: $4.60 - $4.65
Target 1: $4.80
Target 2: $5.00
Stop Loss: $4.50
This strategy balances potential rewards with manageable risks.
Keep monitoring the price action and adjust your targets based on market behavior.
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