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SUI’s final cover for the longs—was it ripped open right away?
$SUI /USDT - short SHORT
Trading plan:
Entry: 0.7239 – 0.7271
SL: 0.7404
TP1: 0.7143
TP2: 0.7069
TP3: 0.6957
Why focus on this setup?
- RSI on the 15m has fallen to 22.62, extremely oversold, but the 1D trend is clearly bearish—any rebound is a short entry.
- 4H timeframe: shorts dominate; the current price is hugging the lower EMA band, and 0.7255 is the last line of defense in the short term.
- Why now? Oversold rebound lacks strength + daily resistance—shorts are likely to drive straight to TP1 (0.7143).
Discussion:
Do you think SUI will first bounce to lure longs before dropping, or will it break down directly to TP2?