$SUI 0.9906: The 1u level has officially been breached, and the Long side is under pressure from all directions!
Derivatives data:
• Top Trader L/S: 2.27 (69.4% of whales are still stubbornly holding Longs).
• OI: 107M USDT (Leverage is tightly packed right around the 24h low).
• Funding rate: -0.0033% (Shorts are starting to pay a fee to push the price down).
Scenario: Losing the 1u level could easily trigger a cascade of liquidations. Absolutely do not stand in front of the train and catch a falling knife right now. Be patient and wait for a clear bounce from the 0.92–0.94u zone before scooping some up.
Did you just get wicked out of your stop, or are you waiting to pile into more Shorts?
$SUI $BTC #Sui #Crypto #BinanceSquare #Trading
Derivatives data:
• Top Trader L/S: 2.27 (69.4% of whales are still stubbornly holding Longs).
• OI: 107M USDT (Leverage is tightly packed right around the 24h low).
• Funding rate: -0.0033% (Shorts are starting to pay a fee to push the price down).
Scenario: Losing the 1u level could easily trigger a cascade of liquidations. Absolutely do not stand in front of the train and catch a falling knife right now. Be patient and wait for a clear bounce from the 0.92–0.94u zone before scooping some up.
Did you just get wicked out of your stop, or are you waiting to pile into more Shorts?
$SUI $BTC #Sui #Crypto #BinanceSquare #Trading