The crypto market's temperature seems to be rising, indicating a potential need for a healthy relief bounce. While the altseason may not have concluded, it's prudent to brace ourselves for a corrective move downward.
Taking a closer look at the SUIUSDT example, we can witness the market's respect for the supply area. Particularly noteworthy is today's occurrence—a clean bounce off the 61.8% Fibonacci resistance level, signaling a palpable downward pressure. This could potentially translate into a 15-20% price drop.
Don't get overexcited and be ready for any scenarios!
Taking a closer look at the SUIUSDT example, we can witness the market's respect for the supply area. Particularly noteworthy is today's occurrence—a clean bounce off the 61.8% Fibonacci resistance level, signaling a palpable downward pressure. This could potentially translate into a 15-20% price drop.
Don't get overexcited and be ready for any scenarios!
Trade closed: target reached
Note
SUI is yet again looking bullish 
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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.
📱 Telegram: t.me/Tradensee
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.