SUI / TetherUSUpdated SUI seems overheated, and a correction is just beginning.
While this coin has the potential to surprise—thanks to strong backing from major VCs and quality market makers—it appears too overheated to sustain further growth without a correction.
In fact, the correction has already begun, as indicated by the **bearish MACD EMA crossover**.
- The **RSI also shows a significant bearish divergence**, reinforcing the likelihood of a pullback.
Adding to this, many investors were drawn in by SUI's massive pump but may now begin to lose confidence. If SUI dips below the key support level, we could see a cascade of selling pressure:
- Leverage positions liquidated.
- Stop-loss orders triggered.
Based on these signals, I anticipate a serious correction that could drive the price down to $2.
Key levels to watch:
- If
SUI drops below $3.20, there’s little support until $2.35.
- Exercise caution and monitor these levels closely.
As always, **DYOR (Do Your Own Research).** 🚨
In fact, the correction has already begun, as indicated by the **bearish MACD EMA crossover**.
- The **RSI also shows a significant bearish divergence**, reinforcing the likelihood of a pullback.
Adding to this, many investors were drawn in by SUI's massive pump but may now begin to lose confidence. If SUI dips below the key support level, we could see a cascade of selling pressure:
- Leverage positions liquidated.
- Stop-loss orders triggered.
Based on these signals, I anticipate a serious correction that could drive the price down to $2.
Key levels to watch:
- If
SUI drops below $3.20, there’s little support until $2.35. - Exercise caution and monitor these levels closely.
As always, **DYOR (Do Your Own Research).** 🚨
Trade active
Well well well, SUI had a strong support and bounced back in its raising channel. Some powers do not want this coin to drop yet. Huge bearish divergeance, super overbought, but +20% today.
Price action does not always reflect what the chart say
Order cancelled
(I am being forced by TradingView to close this idea, but I will continue to update it using the NOTE option.)
SUI is holding around $4, but the correction still has a long way to go. This idea remains valid until the correction is complete.
Here is the updated chart. You can see the massive bearish divergence, caused by whales trying to prevent further decline.
Note
This idea is old, there was a correction but short and small. SUI is well supported by VC and MMNote
It seems clear that SSUI will correct harshly. Be ready for it. Nothing has changed in my analysis, just a little delay due to the Trump optimism.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.