$SUI: High Conviction Short Opportunity as $SUI Tests Supply Wall
SHORT SETUP SUI
Entry: $1.0720 - $1.0760
Stop Loss: $1.1140
Take Profit: $0.99400 (2R)
Key Levels: Support $0.99350 | Resistance $1.0788
Technical Analysis for $SUI: MACD sits below its signal with a negative histogram, while RSI at 41 and the stochastic near the midrange signal weakening momentum. Price is under EMA21, EMA50 and EMA200, confirming a bearish trend. ADX above 40 shows a strong trend, and the orderbook shows a modest askside imbalance. Resistance sits near 1.0788, support around 0.9935.
Market Context: Bitcoin slipped 0.7% in the last 24 hours, staying in a bearish zone, while market breadth remains broadly negative with about 90%
SHORT $SUI
SHORT SETUP SUI
Entry: $1.0720 - $1.0760
Stop Loss: $1.1140
Take Profit: $0.99400 (2R)
Key Levels: Support $0.99350 | Resistance $1.0788
Technical Analysis for $SUI: MACD sits below its signal with a negative histogram, while RSI at 41 and the stochastic near the midrange signal weakening momentum. Price is under EMA21, EMA50 and EMA200, confirming a bearish trend. ADX above 40 shows a strong trend, and the orderbook shows a modest askside imbalance. Resistance sits near 1.0788, support around 0.9935.
Market Context: Bitcoin slipped 0.7% in the last 24 hours, staying in a bearish zone, while market breadth remains broadly negative with about 90%
SHORT $SUI