$SUI keeps bleeding, sitting around 0.93 after tagging 0.915 on the last 4h candle. It's now the fourth red daily in a row and it lost the 1.00 handle that held most of the week.
Funny part is the futures side barely flinched. OI on Binance perps has been flat around $102-105M for two days, funding is basically neutral (-0.002%), and top traders are still about 2:1 long by position. So nobody really got flushed yet, the longs just sat through it.
On the NanoTrading Fire chart (4h) price is below the value area now, VAL sits near 0.96 and the POC is way up at 1.037. Heatmap shows a thick band right under us at 0.90-0.93 and the heavy walls overhead start at 1.00-1.02, with another stack at 1.05-1.07.
My read: as long as 0.90 holds this is just a drift into support, and a reclaim of 0.96 opens the move back to 1.00. Lose 0.90 with all those longs still in and $SUI could get ugly fast 👀
Are you buying this 0.90 zone or waiting for the longs to get washed first?
NFA, just my notes.
Source: NanoTrading Fire chart (nanotradingclub.xyz)
#SUI #Altcoins #NanoTrading
Funny part is the futures side barely flinched. OI on Binance perps has been flat around $102-105M for two days, funding is basically neutral (-0.002%), and top traders are still about 2:1 long by position. So nobody really got flushed yet, the longs just sat through it.
On the NanoTrading Fire chart (4h) price is below the value area now, VAL sits near 0.96 and the POC is way up at 1.037. Heatmap shows a thick band right under us at 0.90-0.93 and the heavy walls overhead start at 1.00-1.02, with another stack at 1.05-1.07.
My read: as long as 0.90 holds this is just a drift into support, and a reclaim of 0.96 opens the move back to 1.00. Lose 0.90 with all those longs still in and $SUI could get ugly fast 👀
Are you buying this 0.90 zone or waiting for the longs to get washed first?
NFA, just my notes.
Source: NanoTrading Fire chart (nanotradingclub.xyz)
#SUI #Altcoins #NanoTrading