"If SUI reaches $4.35, large-scale liquidations...Potential for a sharp rise"

JOON HYOUNG LEE

Summary

BeInCrypto reported that if the price of SUI surpasses $4.35, about $25 million worth of short positions could be liquidated.
BeInCrypto analyzed that short position liquidations typically have a positive impact, such as a sharp price increase.
It was stated that SUI’s RSI is in a bullish range, and there is potential for further rise if the $4.12 support level is defended.

An analysis suggests that if the price of SUI surpasses $4.35, short positions totaling $25 million (about ₩35 billion) could be liquidated.

BeInCrypto, citing data from the on-chain analytics firm Coinglass on the 26th (local time), reported, "If SUI’s price hits $4.35, short positions amounting to about $25 million will be liquidated." BeInCrypto stated, "Short position liquidations generally serve as a positive factor for an asset’s price," adding, "(Upon liquidation), it could trigger strong buying pressure and lead to a sharp price increase."

It is further analyzed that SUI is still in an upward phase. BeInCrypto said, "SUI’s Relative Strength Index (RSI) remains in a bullish zone," explaining, "This means upward momentum is still strong." They added, "Since the RSI has not yet entered the overbought area, there is still room for further price increases."

The key support level is identified as $4.12. BeInCrypto explained, "To reach $4.35, it is essential to protect the $4.12 support level," and added, "Successfully defending this support could pave the way for a move past $4.35 and potentially further gains."

Meanwhile, as of 4:19 p.m. on this day, SUI is trading at $4.23 on CoinMarketCap, up 5.86% from the previous day. Compared to one month ago, this is an increase of about 60%.

SUI