๐ **Market Snapshot โ SUI/USDT**
Currently monitoring **$SUI/USDT** after a recent recovery move from the $0.84 support region. Price pushed toward the **$1.08 resistance zone** but faced rejection and is now consolidating near **$1.04**.
I executed a **demo long position** during the upward momentum expecting a continuation breakout. However, the position moved against the entry and resulted in a **โ831.76 USDT drawdown**, highlighting the importance of timing entries near support rather than near resistance.
๐ **Technical Structure**
โข Higher lows forming after the $0.84 bottom
โข Resistance zone: **$1.08 โ $1.10**
โข Immediate support: **$1.00 โ $0.98**
โข Volume increasing during the recent upward move
โ ๏ธ **Key Scenarios**
1๏ธโฃ **Bullish continuation:** If price reclaims **$1.08**, momentum could extend toward **$1.15 โ $1.20**.
2๏ธโฃ **Pullback scenario:** Failure to hold **$1.00** could lead to a retrace toward **$0.95 โ $0.90** liquidity zone.
๐ **Trading Approach Going Forward**
โข Avoid chasing breakouts after extended candles
โข Look for entries near **support zones or retests**
โข Use clear **stop-loss placement below structure**
โข Manage leverage carefully to reduce volatility risk
This trade was part of **demo trading practice focused on risk management and entry timing.**