Order book data looks like a scam: spot market actively buys more than it pulls up to 1.92. It looks like someone is sweeping at this price level, but the real large capital has net flowed out by 73 million over the past 3 hours. In 12 bars, there isn’t a single green one—retail investors are catching knives at 0.75, while big players are getting off the train.
On the contract side it’s even more straightforward: active sell volume accounts for 67%, the long/short ratio is 0.485, and the shorts are pushing down. Open interest has shrunk for 7 hours by 4.4%. The four-quadrant chart directly labels it as bear_strong—this is longs being cleared out, not building up power. Price is still below the 15-minute MA20, the 4-hour direction is down, and the momentum status literally says "exhausted."
So the sideways action near 0.75 is not a bottom—it’s a continuation pattern within the downtrend. This move has been smashed from 0.851 all the way to 0.7241. Even the rebound couldn’t hold above 0.76; the longs can’t even defend the first line of defense.
I’m bearish. 0.76 is the watershed. If it can’t reclaim and hold, keep shorting. If it breaks below 0.7241, then look at 0.6934. The only signal that could make me turn bullish: the proportion of whale long accounts has reached 75% and they’ve still been adding over the past 7 hours. If one day the spot big orders flip to net positive and price recovers back above 0.76, then this batch of whales is right—and shorts should get out.
#sui $SUI
On the contract side it’s even more straightforward: active sell volume accounts for 67%, the long/short ratio is 0.485, and the shorts are pushing down. Open interest has shrunk for 7 hours by 4.4%. The four-quadrant chart directly labels it as bear_strong—this is longs being cleared out, not building up power. Price is still below the 15-minute MA20, the 4-hour direction is down, and the momentum status literally says "exhausted."
So the sideways action near 0.75 is not a bottom—it’s a continuation pattern within the downtrend. This move has been smashed from 0.851 all the way to 0.7241. Even the rebound couldn’t hold above 0.76; the longs can’t even defend the first line of defense.
I’m bearish. 0.76 is the watershed. If it can’t reclaim and hold, keep shorting. If it breaks below 0.7241, then look at 0.6934. The only signal that could make me turn bullish: the proportion of whale long accounts has reached 75% and they’ve still been adding over the past 7 hours. If one day the spot big orders flip to net positive and price recovers back above 0.76, then this batch of whales is right—and shorts should get out.
#sui $SUI
