$SUI huge pump
Coin: $SUI
Liquidation Value: $2.177K
Price Level: $5.0615
Let’s break down what’s happening with SUI and why this liquidation is making waves in the market:
🔹 Price Action: $SUI attempted a bullish breakout above the $5.10 resistance but failed to sustain the momentum, triggering a sharp pullback. Traders holding long positions are now feeling the heat, with liquidations shaking out over $2K in value.
🔹 Volume Surge: There’s been a 13% spike in volume, indicating heavy trading activity. The shift towards the downside suggests a possible retracement before any further attempts to reclaim the $5.00 mark.
🔹 Market Sentiment: Bearish momentum seems to be growing, but strong support around $4.85 could lead to an eventual recovery, so the sentiment is cautious, with traders looking for confirmation of stability.
🔹 Opportunity for Traders: If SUI holds the $4.85 support, a buy-the-dip opportunity could arise, with targets as high as $5.20 for those willing to risk the volatility.
Thrilling Insight: Liquidation events like this can trigger a change in trend. A clean break above $5.10 could spark a bullish reversal, but if support at $4.85 fails, watch for a deeper retracement towards $4.60.
📊 Price Targets:
Upside Potential: $5.20 - $5.40
Risk Zone: If price breaks below $4.85, further downside towards $4.60 could unfold
Traders, this volatility presents an opportunity or risk—don't miss out on the chance to capitalize on potential reversals!