⚡️ Hello everyone! So far, there has been nothing unexpected in Bitcoin for me personally to update the review. Let's take a look at one of the main altcoins of the season - SUI.
The project burst onto the scene very quickly, with some people writing it off when it hit $1. But it successfully reached $5+, which begs the question: what was that all about? A fleeting narrative or a new token of the future?
📊 Now the token has formed a flag, like many other projects on the market, and is effectively “nowhere.” Gradually approaching both sides of the slope, let's dig deeper to understand which direction a breakout is most likely.
I am not a fundamental expert, but I know that the number of network users is actively growing along with TVL. New projects are being launched and partnerships are being formed (Trump's WLFI).
❓ But what does the chart tell us?
Money Flow - harmony with price. Positions are gradually closing, liquidity is leaving. But there is a divergence in the inflow, the indicator is already forming new lows, while the price is significantly higher than the previous low. This means that people are not yet ready to buy at the current price.
Liquidity Depth - there is currently significantly more liquidity concentrated at the top than at the bottom. This is understandable, as the token has been declining for a long time and is trading below its ATH, with a lot of shorts accumulated. And as we know, the price moves from one liquidity zone to another—that is its fuel. However, despite this, the nearest large liquidity cluster is at the bottom, at levels of 2.13 - 2.04.
Volume - one of the only tokens on the market where sales volumes remain harmonious even after 6 months of correction. The token grew for a very long time, many held on to it and are now continuing to take profits.
📌 Conclusion:
I believe the token clearly has potential. But it is too young, and it is difficult to determine its real value at this point. Many tokens that were a hit in 2021 are now, well, you know where...
So, I am currently considering SUI purely as a speculative asset, and the bear market will show who is who.
I believe that now, together with the entire market, we are going lower, removing liquidity from the 2.13-2.04 level. A correction below 1.7246 (previous low) is even likely.
📈 And from this zone, I begin to consider the possibility of a rebound and taking a long position.
Have a nice day, everyone!
The project burst onto the scene very quickly, with some people writing it off when it hit $1. But it successfully reached $5+, which begs the question: what was that all about? A fleeting narrative or a new token of the future?
📊 Now the token has formed a flag, like many other projects on the market, and is effectively “nowhere.” Gradually approaching both sides of the slope, let's dig deeper to understand which direction a breakout is most likely.
I am not a fundamental expert, but I know that the number of network users is actively growing along with TVL. New projects are being launched and partnerships are being formed (Trump's WLFI).
❓ But what does the chart tell us?
Money Flow - harmony with price. Positions are gradually closing, liquidity is leaving. But there is a divergence in the inflow, the indicator is already forming new lows, while the price is significantly higher than the previous low. This means that people are not yet ready to buy at the current price.
Liquidity Depth - there is currently significantly more liquidity concentrated at the top than at the bottom. This is understandable, as the token has been declining for a long time and is trading below its ATH, with a lot of shorts accumulated. And as we know, the price moves from one liquidity zone to another—that is its fuel. However, despite this, the nearest large liquidity cluster is at the bottom, at levels of 2.13 - 2.04.
Volume - one of the only tokens on the market where sales volumes remain harmonious even after 6 months of correction. The token grew for a very long time, many held on to it and are now continuing to take profits.
📌 Conclusion:
I believe the token clearly has potential. But it is too young, and it is difficult to determine its real value at this point. Many tokens that were a hit in 2021 are now, well, you know where...
So, I am currently considering SUI purely as a speculative asset, and the bear market will show who is who.
I believe that now, together with the entire market, we are going lower, removing liquidity from the 2.13-2.04 level. A correction below 1.7246 (previous low) is even likely.
📈 And from this zone, I begin to consider the possibility of a rebound and taking a long position.
Have a nice day, everyone!
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.