- SUI is under intense pressure from heavily leveraged short positions, with its price teetering around the critical $3.00 support level.
- A breakout or breakdown is imminent, as liquidation clusters suggest a volatile move in either direction.
Sui Network (SUI) is facing a pivotal moment as on-chain data reveals a heavy accumulation of short positions, particularly those with high leverage. Market watchers are bracing for a potentially violent price swing, driven by either short squeezes or mass liquidations.
SUI Faces Intense Short Pressure Amid Market Volatility
Abraxas Capital has positioned itself aggressively in the derivatives market, shorting major assets like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Hyperliquid (HYPE), and SUI, with floating profits surpassing $55 million. According to OnChain Lens, these trades—executed across two wallets—signal expectations of a broader market downturn.
For SUI in particular, the influx of 25x leveraged shorts has sparked concern. The cryptocurrency recently dropped to the crucial $3.00 level, where bulls are attempting to defend against further losses. If this support fails, SUI could plunge toward $2.00 or even the $1.38–$1.50 range—levels last seen in March and April.
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Breakdown or Pullback? Key Levels to Watch
Technically, SUI remains at a crossroads. If the $3.00 support holds, a rebound to $3.90 or higher is possible, potentially pushing toward the recent high at $5.36. The MACD histogram remains green, suggesting bullish momentum hasn’t been completely lost.
However, the structure of higher lows appears to be breaking down, hinting at a growing bearish trend. If support fails, SUI’s price could collapse under the weight of leveraged short interest and negative sentiment.
Liquidation Clusters Suggest a Volatile Move Ahead
CoinGlass data shows the SUI market is packed with leveraged positions, especially between $3.05 and $3.39. Around $13.78 million in short liquidations lie vulnerable in this zone. A rally past $3.06 could spark a chain reaction, forcing short sellers to cover and triggering a sharp surge.
Meanwhile, long positions cluster just below $3.06—particularly from $2.70 to $2.95—posing a downside risk. If the price dips, panic selling from longs could exacerbate the decline.
With both sides of the market heavily loaded, the SUI price is poised for a decisive move—one that could either trigger a relief rally or a deeper breakdown. Traders should brace for heightened volatility in the coming sessions.
