The recent movements of $SUI have been quite exhausting; let me break down the current situation for you:
Looking at the market, the rebound this morning just reached the resistance level and then backed off; now it’s floating like a deflated balloon. The position at 3.48 is crucial; both bulls and bears are watching closely, and neither side dares to make the first move. The technical indicators are barely alive, showing neither explosive growth nor signs of a crash.
Data-wise, it’s quite interesting: the bulls are starting to get anxious and rush to enter as soon as there’s an uptick. The contract open interest remains high, indicating that the gamblers are still holding on. Recently, the trading volume has increased, but the number of liquidations has decreased, which means that the chips are becoming more concentrated—this is actually a good thing for someone like me who controls the market.
Here’s some practical advice:
Don’t chase the highs right now; there’s heavy selling pressure above.
If it can stabilize between 3.48-3.52 and then move up, you might consider joining in.
If it falls below 3.48, be prepared to run; there could be more pitfalls below.
Remember, the current market is all about patience, seeing who loses their cool first.
