SUI is definitely getting some buy support in the 0.6760-0.6800 range, but calling it a reversal signal is jumping the gun. After that sharp drop, this is just the first bounce off support, and whether it holds depends on the next few candlesticks.
Even though the technicals are giving a long entry point, there's significant resistance around 0.69 where previous lows were converted, and the selling pressure there won't be light.
If the rebound doesn’t even touch 0.6920, that would signal a weak bounce and could actually accelerate the decline. Setting a stop loss at 0.6614 is sensible, but I recommend not chasing the highs and waiting for a confirmed breakout before jumping in. Right now, the market sentiment isn't great, and SUI's trading volume and funding rates aren’t looking too optimistic.
Going long at this level is more of a left-side gamble, and the win rate isn’t that high. It's suitable for light positions to test the waters, so don’t get too carried away.
#SUI
Even though the technicals are giving a long entry point, there's significant resistance around 0.69 where previous lows were converted, and the selling pressure there won't be light.
If the rebound doesn’t even touch 0.6920, that would signal a weak bounce and could actually accelerate the decline. Setting a stop loss at 0.6614 is sensible, but I recommend not chasing the highs and waiting for a confirmed breakout before jumping in. Right now, the market sentiment isn't great, and SUI's trading volume and funding rates aren’t looking too optimistic.
Going long at this level is more of a left-side gamble, and the win rate isn’t that high. It's suitable for light positions to test the waters, so don’t get too carried away.
#SUI