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SUI / USDT
Short

SUI/USDT 1H Analysis: Bearish Structure in Play

By BulldogNL
SUI/USDT 1H Analysis: Bearish Structure in Play

  1. Current price: $4.51, trending downward in a clear bearish structure.
  2. Equilibrium zone: $4.80 – multiple failed attempts to reclaim this level, with consistent lower highs signaling seller dominance.
  3. Support and resistance:
  4. Current support: $4.30 ("Discount" zone).
  5. Major resistance: $4.70.
  6. Recent price action:
  7. The bounce to $4.51 appears to be a classic retest of broken support, aligning with typical bear market behavior.
  8. Trade setup:
  9. Rated 7/10 for shorts, but caution is advised as oversold conditions are approaching.
  10. Short entries could target $4.30, with stops above $4.70 to manage risk.
  11. Outlook: The bearish structure remains intact unless price breaks convincingly above the equilibrium zone of $4.80.
What’s your take on this setup? Share your thoughts below! 📉👀
Chart PatternsTechnical IndicatorssuiusdtTrend Analysis
BulldogNL

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