$SUI REVERSAL REJECTED: SELLERS BACK IN CONTROL?
$SUI is currently trading at $3.6852, up +4.07% on the day. However, after failing to sustain above the $3.70 level, price sharply rejected and is now testing lower support. The recent sell-off is hinting at weakening momentum, and bulls must defend the next key zone to avoid deeper correction.
Key Technical Levels:
• Immediate Resistance: $3.7050 – $3.7400
Strong rejections in this area are pushing price lower. A breakout above $3.74 is essential for any bullish continuation.
• Critical Support: $3.6720 – $3.6400
Price is sitting just above this zone. A clean break below $3.6720 could trigger a sharp move toward the $3.60 region.
• 24h Range:
• High: $3.7448
• Low: $3.5271
Trade Setup:
Bullish Setup:
• Entry: Above $3.7050
• TP1: $3.7300
• TP2: $3.7500
Bearish Setup:
• Entry: Below $3.6720
• TP1: $3.6400
• TP2: $3.6000
Stop-Loss Levels:
• Longs: Below $3.6680
• Shorts: Above $3.7100
SUI failed to hold gains above $3.70 and is now slipping back into a danger zone. If $3.6720 breaks, expect further downside. Bulls must reclaim $3.7050 quickly to regain momentum.
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{spot}(SUIUSDT)
$XRP
{spot}(XRPUSDT)
is currently trading at $2.31, slightly below the key resistance level of $2.35. The market has shown increased activity, with CME futures daily volumes reaching all-time highs, indicating heightened institutional interest.
Analysts suggest that if XRP can decisively break above the $2.35 resistance, it may target the next level at $2.65, especially as bearish momentum appears to be weakening.
However, it's important to note that XRP has previously faced challenges at similar resistance levels, with past attempts leading to price reversals.
Traders should monitor market indicators closely, as a successful breakout above $2.35 could signal a bullish trend, while failure to do so might result in a pullback.
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($BTC )Bitcoin's funding rate has turned negative, signaling a shift in market sentiment. This indicates that more traders are betting against Bitcoin's price, leading to higher borrowing costs for those holding long positions. This trend is also observed in top altcoins, where traders are increasingly shorting, anticipating potential price declines.
Despite these bearish signals, Bitcoin's price remains above $100,000, reflecting strong underlying demand. However, the negative funding rate suggests caution, as it may precede a market correction.
Traders should monitor these developments closely, as sustained negative funding rates could lead to increased volatility and potential price adjustments in the near future.
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