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💧 $SUI in the decision zone: Steel support or free fall? 📉
The 4-hour chart doesn't lie: SUI has seen a significant correction from $1.03 and is now battling in the $0.93 zone. For many, this is fear; for others, it's an area of institutional interest.
🔍 Key points of analysis:
Critical Support: We're testing the $0.928 - $0.930 level. If the bulls manage to defend this zone, we could see a double bottom that propels us back towards the dollar.
Volume and Supply: The order book shows slightly higher selling pressure (52%), indicating the market is waiting for a Bitcoin confirmation before bouncing back strong.
The Scenario: If we lose the $0.92, the next relevant support is in the $0.88 zone. However, the slow recovery structure suggests that strong hands are accumulating at these low levels.
💡 My Flight Plan:
I don't trade on emotion. I'm watching for a bullish confirmation candlestick on smaller timeframes (15m or 1H) before looking for a "long" towards $0.97. At this point in the market, patience pays more than excessive leverage.
What do you all think?
Is it time to buy the "dip" of $SUI or do you think there's still room to fall further? I’m reading your thoughts below. 👇
#Sui #CryptoAnalysis is #TradingSignal #BinanceSquareFamily #Altcoins👀🚀 ins #Lay
$SUI