🚨 $SUI — Withdrawal of Liquidity and Start of a Downward Correction 🚨
After a strong uptrend reached the peak at 1.2969, $SUI is showing clear signs of weakening momentum and the beginning of a local distribution phase. The rapid rally toward the high managed to pull in buying liquidity, but buyers couldn’t sustain the movement, leading to strong price rejection and the formation of lower highs below the 1.2184 level.
The price is currently breaking the dynamic support represented by the 7-day moving average (1.1780) while pressuring the day’s low at 1.1602. Trapping buyers at the highs and the retreat in momentum indicators support a shift in the movement structure toward a bearish corrective wave targeting selling-liquidity zones below.
━━━━━━━━━━━━━━━━━━━━
📉 Trade Plan: Sell $SUI
━━━━━━━━━━━━━━━━━━━━
• Entry Zone: 1.1750 – 1.1950 (on retesting the broken moving average and the local supply zone)
• First Target: 1.1200 (temporary local support level)
• Second Target: 1.0400 (the previous breakout zone and the daily structural support)
• Third Target: 0.9500 (deep liquidity level near the 25-day moving average)
• Stop Loss: 1.2250 (above the most recent bearish peak and the 1.2184 resistance level)
• Confirmation: bearish reversal candles appear on smaller timeframes within the entry zone, along with a noticeable drop in buying volumes.
• Trade Invalidation: a full daily candle closing above 1.2250 completely cancels the bearish outlook.
Stick to risk management and avoid high risk! 🎯
After a strong uptrend reached the peak at 1.2969, $SUI is showing clear signs of weakening momentum and the beginning of a local distribution phase. The rapid rally toward the high managed to pull in buying liquidity, but buyers couldn’t sustain the movement, leading to strong price rejection and the formation of lower highs below the 1.2184 level.
The price is currently breaking the dynamic support represented by the 7-day moving average (1.1780) while pressuring the day’s low at 1.1602. Trapping buyers at the highs and the retreat in momentum indicators support a shift in the movement structure toward a bearish corrective wave targeting selling-liquidity zones below.
━━━━━━━━━━━━━━━━━━━━
📉 Trade Plan: Sell $SUI
━━━━━━━━━━━━━━━━━━━━
• Entry Zone: 1.1750 – 1.1950 (on retesting the broken moving average and the local supply zone)
• First Target: 1.1200 (temporary local support level)
• Second Target: 1.0400 (the previous breakout zone and the daily structural support)
• Third Target: 0.9500 (deep liquidity level near the 25-day moving average)
• Stop Loss: 1.2250 (above the most recent bearish peak and the 1.2184 resistance level)
• Confirmation: bearish reversal candles appear on smaller timeframes within the entry zone, along with a noticeable drop in buying volumes.
• Trade Invalidation: a full daily candle closing above 1.2250 completely cancels the bearish outlook.
Stick to risk management and avoid high risk! 🎯
