$SUI just slipped under the whole range, down about 4% today and printing 0.9103 after a 0.9029 low. It got rejected at 0.9528 early in the day and every 4h candle since has been a lower high.
On the NanoTrading Fire chart (4h) the volume POC is way up at 1.040 and the value area low sits at 0.965, so price is now trading below value for the first time in weeks. The heatmap has liquidation tags of roughly $81M near 0.97 and $80.5M near 1.04, plus a band right around 0.90 that price is leaning on now.
Binance futures data is the interesting part. Open interest went from about $98.4M to $102.6M over the last few 4h prints while price dropped, so new positions are piling in on the way down. Around 65.7% of accounts are still long (L/S about 1.91) and funding stays slightly positive, so a lot of people are trying to catch this.
My read: lose 0.90 on a 4h close and $SUI probably flushes those late longs. Reclaim 0.965 and the value area low turns into a trampoline back toward 1.00 👀
Are you buying this dip or waiting for 0.90 to break first?
NFA, just my chart notes.
Source: NanoTrading Fire chart (nanotradingclub.xyz)
#SUI #Altcoins #NanoTrading
On the NanoTrading Fire chart (4h) the volume POC is way up at 1.040 and the value area low sits at 0.965, so price is now trading below value for the first time in weeks. The heatmap has liquidation tags of roughly $81M near 0.97 and $80.5M near 1.04, plus a band right around 0.90 that price is leaning on now.
Binance futures data is the interesting part. Open interest went from about $98.4M to $102.6M over the last few 4h prints while price dropped, so new positions are piling in on the way down. Around 65.7% of accounts are still long (L/S about 1.91) and funding stays slightly positive, so a lot of people are trying to catch this.
My read: lose 0.90 on a 4h close and $SUI probably flushes those late longs. Reclaim 0.965 and the value area low turns into a trampoline back toward 1.00 👀
Are you buying this dip or waiting for 0.90 to break first?
NFA, just my chart notes.
Source: NanoTrading Fire chart (nanotradingclub.xyz)
#SUI #Altcoins #NanoTrading