SUI/USDT 1H: Distribution in Play – Short Setup recent lows?
SUI/USDT 1H: Distribution in Play – Short Setup Targeting Recent Lows?
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Current Market Structure:
Market Maker Activity:
Technical Indicators:
Trade Setup (Confidence 8/10):
Risk Score:
Recommendation:
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Current Market Structure:
- Bearish trend continues, with a recent bounce off $2.90 support.
- Price now at $3.17, showing signs of consolidation.
Market Maker Activity:
- Clear distribution pattern visible in the $3.25-3.35 zone, suggesting institutional unloading.
Technical Indicators:
- Hidden bearish divergence on RSI.
- Multiple lower highs forming on the 1H timeframe.
- Strong resistance cluster at $3.25-3.35 supports the bearish outlook.
Trade Setup (Confidence 8/10):
- Short Entry: Look to enter at $3.22-3.25 (resistance zone).
- Targets:
- T1: $3.05
- T2: $2.90
- Stop Loss: Place at $3.35 (above recent resistance).
Risk Score:
- 7/10 – Favorable risk-to-reward, provided price is rejected at the resistance zone.
Recommendation:
- Wait for confirmation of rejection at $3.22-3.25 before entering a short position.
- The strong distribution pattern and technical signals suggest continued downside toward recent lows.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.