❌ $SUI / USDT – Bearish Setup Developing Below Resistance
🔻 Sellers Defending Resistance – Possible Rejection Ahead
$SUI is showing signs of weakening after multiple rejections near the $3.64 resistance zone. Despite attempts to break higher, price has failed to hold momentum above $3.60. A tightening range and lower highs on the 1H chart indicate sellers may be preparing for downside continuation.
📉 Trade Setup (SHORT Position):
Entry Zone: 3.600 – 3.610
Take Profit 1 (TP1): 3.540
Take Profit 2 (TP2): 3.500
Take Profit 3 (TP3): 3.482
Stop Loss (SL): 3.646
🧠 Market Outlook & Technical Reasoning:
Bearish Rejections: Price is repeatedly rejected at $3.64, confirming strong supply.
Lower Highs Forming: Recent candles are failing to break previous highs, suggesting sellers are in control.
Weak Volume on Rallies: Bullish attempts lack volume strength, pointing to distribution.
Support Test Likely: A break below $3.58 could open the path toward $3.50 or lower.
📌 Strategy Note:
Aggressive Entry: Within 3.600 – 3.610 (current zone).
Conservative Entry: After a 1H close below 3.580.
Risk Management: Move SL to breakeven after TP1 hits. Use trailing SL for extended downside moves.
🚦Summary:
SUI is struggling near resistance with weakening bullish momentum. Clean short setup with favorable risk/reward for intraday and swing traders looking to catch a pullback toward the $3.50 zone.
🔁 Sell / Short $SUI while below $3.64 resistance holds.
