SUI, the native cryptocurrency of the Sui blockchain, is currently trading around $4,21, capturing the attention of investors and analysts alike. The digital asset is experiencing significant market pressure, highlighted by substantial liquidation zones that suggest an imminent and potentially dramatic price movement. With a daily gain of 5,64% and a 24-hour trading volume soaring to $2,14 mil millones, the stage is set for heightened volatility.
Market data reveals two critical areas of interest for SUI’s price action. Below its current trading level, a cluster of long liquidations is concentrated between $4,05 and $4,12. This range acts as a robust support zone where a large number of ‘long’ positions (bets on price increases) could be forcibly closed if the price dips, potentially accelerating a downward spiral. The substantial $14,56 mil millones market capitalization, largely unlocked and actively circulating, means that any such move could have a magnified effect, rapidly cascading through the market.
Conversely, above SUI’s current price, considerable short liquidation clusters are forming between $4,40 and $4,45. These levels represent a significant resistance barrier. Should SUI’s price manage to break past this threshold, it could trigger a ‘short squeeze,’ where ‘short’ positions (bets on price decreases) are closed, forcing buyers into the market and fueling a rapid upward trajectory. This scenario points to a strong breakout potential, with a sudden surge in buying pressure.
The escalating 24-hour trading volume, which has seen a 23,05% increase, further corroborates the building tension. High liquidity both above and below the current price indicates that once either the support or resistance level is breached, the ensuing liquidation cascade could lead to a swift and pronounced directional shift. Traders are closely monitoring the $4,12 and $4,40 marks, as a definitive move beyond either could dictate SUI’s short-term future.
As SUI’s price consolidates within an increasingly tight range, market sentiment suggests that a period of relative calm is about to give way to significant price discovery. The intense competition around these liquidation levels underscores a market bracing for a decisive breakout, promising considerable opportunities and risks for participants.
Disclaimer: This article is for informational purposes only and should not be taken as financial advice. Always conduct thorough research before making investment decisions.
