$SUI such a big move
Coin: $SUI
Liquidation Value: $12.273K
Price Level: $5.24751
Here’s what this major short liquidation tells us about the SUI market:
Price Action: SUI surged past key resistance at $5.20, triggering a short squeeze and liquidating $12.273K in short positions at $5.24751. This upward move reflects strong buying pressure and increasing market confidence.
Volume Spike: Trading volume increased by 22%, showing heightened trader interest. The breakout above $5.20 has set the stage for potential further upside, with momentum accelerating.
Market Sentiment: Sentiment is now strongly bullish, as traders focus on potential resistance levels at $5.30 and $5.40. A sustained move above $5.20 could solidify the bullish case.
Opportunity for Traders: If SUI consolidates above $5.20, it presents a buy-the-dip opportunity, targeting $5.30 and beyond. A pullback could retest $5.20 as support, offering a lower-risk entry.
Key Insight: This large liquidation signals a turning point for SUI, with bulls clearly taking control. A failure to maintain $5.20 as support might lead to a retracement toward $5.10, but the outlook remains positive.
Price Targets:
Upside Potential: $5.30 - $5.40
Risk Zone: Below $5.20, potential downside toward $5.10
With such a significant move, SUI is capturing attention—get ready for more volatility as the price tests higher levels!