- SUI’s been wandering around like a lost puppy for ten days now. Seriously, just moving sideways. 🐶
- And guess what? It just so happens to hang out near a short-term supply zone at $4. Great, right?
Since that liquidation fiasco on February 3rd, SUI has been doing this little dance between $3 and $4. Traders are reaping some delightful 20% gains either way. Short, long, it’s like a buffet for traders! 🤑
Now, while Bitcoin‘s [BTC] throwing a fit and staying choppy, the million-dollar question is: will SUI continue its leisurely stroll sideways or actually make a run for the $4 mark? Buzzkill, I know.
SUI hits a short-term supply zone. Whoop-de-doo!
Looking at the daily chart, SUI’s recent “recovery” is just flirting with the short-term supply zone (you know, the red zone, just under $4). It’s all very exciting, like waiting for paint to dry. Perfect for those swing traders with profit ideas. 🥱
And since the daily RSI is underwhelming, SUI might just retreat to the $3 area again if BTC keeps its mood swings between $94K and $100K. Fantastic! 🙄
But wait! The lower time frame tells a different story. The 4-hour chart? It’s showing some feisty bullish action above key moving averages for the first time since late January. What a plot twist!
However, let’s not get too excited. That extended recovery could see a ceiling at $4 or $4.28 if BTC can’t get off its butt and rise over $100K. Fingers crossed! 🤞
Will SUI actually blast through $4? Please, tell me more.
You know, market makers are like kids in a candy store looking for liquidity and messing with price action. Duh. It was quite clear when SUI was getting cozy near the yellow levels (the high liquidation zones). 🍭
Peeping at the 2-week chart, liquidation zones were hanging out at $2.8, $3.4, $4, and $4.3. Since $3.4 and $4 are right in the vicinity, those might be hit first if they feel like cooperating. If so, SUI might just peek over $4. But don’t hold your breath; it all hinges on BTC’s big moment.
On the flip side, if the market throws a tantrum, we might just see that support area below $3 getting tested again. What a rollercoaster! 🎢
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2025-02-14 00:09