Major SUI liquidation is coming as the price breaks through 2 weeks of consolidation:

The price of SUI has experienced a sharp increase in the past 24 hours, pushing the altcoin towards a potential breakout.
The recent rebound, combined with favorable conditions in the broader market, has sparked optimism for prices to rise to new highs. This altcoin is gradually approaching a breakout after a period of consolidation.
SUI is gaining momentum.
The relative strength index for SUI ( RSI ) is still in the bullish zone, indicating strong upward momentum for this altcoin. The RSI has not yet reached the overbought area, suggesting there is still room for further growth.
This indicates that as investor confidence increases, SUI may continue to rise.
The healthy state of RSI supports the view that SUI price can maintain its bullish trajectory. Continued positive momentum indicates that this altcoin has enough strength to break through the resistance ahead, especially if market conditions remain favorable.
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Although market sentiment is bullish, SUI faces the threat of large-scale liquidations. The liquidation chart shows that if the price reaches $4.35, approximately $25 million in short contracts may be triggered.
This will create significant buying pressure, which may lead to a price increase.
The strong liquidation of short-term positions is often seen as a positive factor for asset prices, as it leads to increased demand. The lack of short contracts will help maintain a bullish sentiment towards SUI, as there will be fewer sell orders to counteract in the market. This lays the groundwork for a potential breakout.
The SUI price is breaking through.
The current trading price of SUI is $4.13, attempting to gain support at $4.12, following a 10% increase over the past 24 hours. This altcoin has rebounded from $3.69, indicating that the recent correction may have ended, and the next phase could involve upward movement. The goal is to establish $4.12 as support and continue the bullish trend.
The next major resistance level for SUI is $4.35. To reach this price target, SUI must hold at the support level of $4.12. If the token successfully stabilizes at this support, it may advance towards $4.35, potentially leading to further gains.
However, the current market uncertainty remains a risk.
If the bullish momentum weakens and investors begin to sell off, the price of SUI may retrace to $3.93. Losing this support level could invalidate the bullish argument, and SUI may face difficulties in regaining upward momentum.
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