Bearish on SJIIUSDC & #SUIUSDT Perp
Key Reasons:
1. Overbought & Exhaustion Signals:
- STOCHRSI: 84.79 (extremely overbought) for SJIIUSDT, signaling reversal risk.
- RSI(6): 43.24 (neutral) for SUIUSDC shows weak momentum despite price pump.
2. Price Rejection at Critical Resistance:
- SUIUSDT rejected at Middle Bollinger Band (3.36572), trading below it (3.25019).
- SJIIUSDT faces selling pressure near 24h High (3.31331 for SUI; similar structure for SJII).
3. Overcrowded Longs & Funding Risk:
- 72%+ longs on both assets (L.S. Ratio >2.62), with positive funding rates (SUI: +0.19%).
- High long liquidation risk if price reverses.
4. Divergence in Volume/Momentum:
- Declining volume MA(5/10) for SUIUSDT (MA5: 3.42B vs. MA10: 4.56B) hints at fading interest.
- MACD near zero for both (SUI: +0.00073; SJII: weak momentum), lacking bullish conviction.
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## Targets:
- SUIUSDT: Fall to Lower Bollinger Band (3.02026).
- SJIIUSDT: Retrace to $3.12 (24h low support).
### Action:
- Avoid new longs until STOCHRSI cools below 50.
- Short near resistance: SUI @ 3.30, SJII @ .25-3.30 zone.
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