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SUI Nears Critical $4 Breakout as Futures Demand Hits All-Time High
SUI Nears Critical $4 Breakout as Futures Demand Hits All-Time High
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[TRADE_PLUGIN]SUIUSDT,SUIUSDT[/TRADE_PLUGIN]
SUI News -
Sui's market activity is surging with open interest approaching record levels, now ranking as the sixth most-traded asset in futures markets. Traders are eyeing a potential short squeeze above the key $4.00 psychological level, with current prices holding between $3.80-$3.90—marking a 51% rally since mid-June.
Technical analysis shows a bullish pennant formation on 4-hour charts, reinforced by aligned exponential moving averages. The $4.00-$4.10 resistance zone remains a critical barrier, having previously triggered $2.2 million in long liquidations. Market depth indicates $16 million in liquidity concentrated NEAR this threshold, signaling an impending decisive price movement.
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