$SUI Liquidated Short: $69.5K at $4.356 – What's Next?
If you’ve recently seen a short liquidation on SUI at $69.5K with a price of $4.356, you might be wondering what’s next for this cryptocurrency and how to plan your trades. Here's a breakdown to help you:
Current Analysis
Price Level: The price of SUI is currently around $4.356, which is important for understanding short liquidations.
Short Liquidation: A short liquidation happens when a trader bets against an asset, but the market moves in the opposite direction, forcing them to close their position at a loss. This can lead to a quick surge in price.
What’s Next for SUI?
Support Zone: SUI has found support around $4.35. If the price bounces here, it could lead to a short-term rally.
Resistance Level: Watch for resistance around $4.75 to $5.00. If the price breaks above this, SUI may see further upside.
Buy Zone, Target, and Stop-Loss
Buy Zone: If the price drops and holds above $4.35, this could be a good entry point. You can also consider buying if it breaks above $4.75 with momentum.
Target:
Short-term target: $5.00 to $5.25.
Long-term target: $6.00 if the momentum continues.
Stop-Loss: Set a stop-loss around $4.10 to limit losses in case the price breaks down further.
Key Tips
1. Watch Market Sentiment: After a short squeeze, price action can be unpredictable. Stay informed by checking news and market trends.
2. Risk Management: Always use stop-loss orders to protect your capital. Don't risk more than you're willing to lose.
3. Timing: Don't rush into trades. Wait for confirmation from price action and volume before entering.
Conclusion
SUI has experienced a short liquidation, and the price could either rally or pull back.
Keep an eye on key levels like $4.35 for support and $4.75 to $5.00 for resistance.
Use risk management to protect yourself and set realistic targets based on market movement.
Happy trading, and stay informed!
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