SUI Faces Major Liquidations as Price Breaks Out of 2-Week Consolidation
Sui's recent rally, fueled by favorable market conditions, suggests a potential breakout from its consolidation phase. The altcoin's Relative Strength Index (RSI) remains firmly in bullish territory, indicating sustained upward momentum without reaching overbought levels.
A critical liquidation threshold at $4.35 could trigger approximately $25 million in short contracts. Such an event WOULD likely generate significant buying pressure, potentially driving SUI's price higher. Market dynamics indicate the altcoin has enough strength to test resistance levels if the current bullish sentiment continues.