SUI/USDT 1H Analysis: Bearish Structure in Play

Jan 13

SUI/USDT 1H Analysis: Bearish Structure in Play

1. Current price: $4.51, trending downward in a clear bearish structure.
   
2. Equilibrium zone: $4.80 – multiple failed attempts to reclaim this level, with consistent lower highs signaling seller dominance.
   
3. Support and resistance:
   
4. Current support: $4.30 ("Discount" zone).
   
5. Major resistance: $4.70.
   
6. Recent price action:
   
7. The bounce to $4.51 appears to be a classic retest of broken support, aligning with typical bear market behavior.
   
8. Trade setup:
   
9. Rated 7/10 for shorts, but caution is advised as oversold conditions are approaching.
   
10. Short entries could target $4.30, with stops above $4.70 to manage risk.
    
11. Outlook: The bearish structure remains intact unless price breaks convincingly above the equilibrium zone of $4.80.
    

What’s your take on this setup? Share your thoughts below! 📉👀

Jan 17

Trade closed: stop reached

Jan 19

Note

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