Main to remember
Suis jumped 34% but is now faced with short -term sales pressure. Lean Bearish merchants, but $ 50 million in schooling suggest long -term accumulation and rebound potential greater than $ 4.20.
After a notable increase of 34% of monthly prices, SUI (SUI) undergoes short -term sales pressure and seems to be ready for a potential price drop.
Suis has strongly rallied in last week, coming out of a descending trend line and reaching the key level of $ 4.20.
However, after having failed to maintain its recent consolidation, the price action now points out a potential correction or a decrease.
Current price momen
At the time of the press, after a price drop of 7.50% in the last 24 hours, followed almost the level of $ 3.77.
However, Merchants and investors fell, resulting in 26% drop in the Commercial Volume of SU in the last 24 hours.
This drop is probably the result of profits after a net price rally of 34%, the capital can be turned into ecosystems like Ripple (XRP) and Avalanche (AVAX).
Suit price action and key levels
Ambcrypto’s technical analysis suggests that SUP has become a short -term lowering after ventilation of price consolidation near the level of $ 4.20.
Source: tradingView
If the current momentum of Sui and the feeling of the market persist, the price could drop by 10%, which has potentially reached support for $ 3.40 in the coming days.
Conversely, $ 4.20 remains a key escape level. If a daily candle is more than $ 4.20, it could reach 30% and target $ 5.50. This bullish scenario is only valid with a confirmed closure above $ 4.20 – otherwise, it is invalidated.
At the time of the writing of the editorial staff, the RSI of Suis has cooled at 61, the levels of overchat, signaling a bullish momentum and a possible consolidation or correction in the short term.
The Metric of Suit in Tête shared the mixed feeling
Given the current market conditions, the merchants started to bet on the short side, as revealed by the Coinglass chain analysis tool.
The data show that the current long / short ratio of Suits is 0.87, indicating a strong lower feeling among the merchants.
Source: Coringlass
Meanwhile, the main levels of liquidation where traders showed interest are $ 3.67 on the lower side and $ 3.88 on the upper side.
About $ 14.44 million in long positions and $ 20.90 million in exposed positions were recorded at these levels. This clearly reflects the feeling of traders in the middle of the current correction.
Source: Coringlass
However, long -term investors and holders took advantage of this price drop by accumulating more sui.
Coinglass data reveal that nearly $ 50 million sui left the exchanges. This indicates a potential accumulation and a signaling of long -term potential.
