SUI has accumulated significant liquidity over the last three months, and if it drops below $1.6 USD, many long positions will be liquidated.
In the past month, the $2.2 USD level has been the main liquidation pool. However, looking back slightly, most of the open positions from the last month—primarily longs—have already been liquidated.
Over the past 7 days, a similar trend has continued, with the majority of long positions being liquidated while unliquidated shorts continue to accumulate.
Currently, there’s an Open Interest of over $370M. In the short term, the Long-Short Ratio on Binance, OKX, and Bybit has started to rise again, but the funding rate remains negative. Additionally, the OI/Market Cap stands at approximately 7%, with over $5 million in liquidations today.
Discover where the market liquidity lies, dive into our screener to gauge sentiment, and find opportunities.
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