SUI appears to be losing momentum after failing to maintain the bullish structure from the peak area of 4.44. A sharp decline to 0.55 indicates that the distribution phase has completed and the market has entered a medium-term downtrend. The current price at 1.60 is still far below MA 25 and MA 99, so the recent minor increase reflects more of a technical rebound than a trend reversal. Volume has also not shown signs of aggressive accumulation.
Trading Plan (Sell on Rebound)
Entry Short: 1.70 – 1.85
TP1: 1.55
TP2: 1.35
TP3: 1.20
Stop Loss: 2.05
Summary
As long as SUI is unable to reclaim the area of 1.85 – 2.05 with a strong close and increased volume, the bias remains bearish. The upper area is more ideally used as a distribution zone, while the potential for further weakness to the lower support remains open. A long scenario is only relevant if there is a clear break in structure accompanied by volume confirmation.
SUIUSDT
Perp
1.561
-2.63%