$SUI Short Alert: Resistance Rejection & Bearish Momentum! 📉🛑
Sui ($SUI) is showing a textbook Lower High formation on the daily chart, indicating that sellers are stepping in much earlier on every relief rally. After failing to sustain momentum above the key $1.02 resistance zone, the price structure has turned decisively bearish.
Technical Breakdown:
Bearish Structure: SUI is printing a sequence of lower highs and lower lows, a clear signal that the bulls are losing control.
Resistance Rejection: The rejection near the $1.00 - $1.02 level acts as a defining pivot point for the current downtrend.
Volume Analysis: Declining buy volume suggests that recent upticks are merely technical corrections within a dominant bearish trend.
Trade Plan:
Action: Short in the Entry Zone.
Entry: 0.95 – 0.98 🎯
Targets (TP):
TP1: 0.90 (Key psychological support)
TP2: 0.84 📉
TP3: 0.78 🚀
Stop Loss (SL): 1.04 (Protect your capital above the recent swing high)
Risk Warning: Crypto markets are highly volatile. $SUI remains sensitive to broader market shifts and macro data releases. Always use proper leverage and manage your risk. DYOR!
Are you shorting the rejection or waiting for a deeper dip? Share your strategy! 👇
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