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$SUI FACES FRESH DOWNSIDE RISK — 0.8353 LIQUIDITY SWEEP FAILS AS BEARS MAINTAIN CONTROL!
$SUI may be showing a modest +0.4% daily recovery, but the bigger picture remains bearish. The recent wick above 0.8353 looks more like a liquidity grab than a confirmed bullish breakout.
Here's what the chart is signaling:
- Bearish Structure: The 1H, daily, and weekly trends remain bearish, keeping downside pressure firmly in focus.
- Liquidity Sweep: Price briefly pushed above 0.8353 but failed to hold the breakout, potentially trapping late buyers and creating another downside opportunity.
- Key Downside Targets: 0.8300 is the first target, followed by 0.8120 and 0.8007 if selling momentum accelerates.
- Short Entry Zone: Watch 0.8340–0.8383 for a potential rejection. A bearish engulfing candle or lower-timeframe structure shift would provide stronger confirmation.
Trading Setup – Bearish Bias
Entry: 0.8340–0.8383 (after confirmation)
Take Profit:
- TP1: 0.8300
- TP2: 0.8120
- TP3: 0.8007
Invalidation: A confirmed 1H close above 0.8373 would invalidate the bearish setup and signal a potential bullish structure shift.
Market Flow:
- Open Interest: $80.8M (-1.0% in 24H)
- Funding Rate: +0.0097%
- Taker Ratio: 1.24x
BTC vs SUI: Interestingly, BTC's bullish trend contrasts with SUI's bearish local structure. Positive taker flow and long positioning also make confirmation essential before entering a short.
Final Verdict: Don't mistake a small daily bounce for a trend reversal. The failed 0.8353 breakout could be another liquidity trap, but sellers must confirm their presence before the next move lower. Patience and risk management come first.
Not financial advice. Educational analysis only.
CHIL-WITH-CRYPTO
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