SUI Price Alert: $143 Million Short Liquidations Loom Near $1.74

SUI is entering an important zone where positioning across exchanges is starting to look uneven. Crypto analyst Eye Zen noted on Feb 15 that liquidation pressure is skewed higher rather than lower, meaning upside moves could trigger a larger wave of forced buying.

Data shows that around $143.9 million in short positions could be liquidated if SUI climbs toward $1.74. On the downside, about $25.7 million in longs sit at risk if the price falls closer to $0.72.

This imbalance suggests traders are leaning more heavily into bearish bets, leaving the market vulnerable to sharp rebounds if the price pushes higher. Liquidation clusters often act like magnets in crypto markets, where price can move quickly once key levels are tested.

Read More: SUI Holds $0.90 Range as Analysts Signal Risk of Further Downside

SUI Weekly Chart Confirms a Corrective Phase

Analysis done on TradingView indicates that SUI is still within the corrective phase after a large bullish move during the earlier stages of the cycle.

The token moved from below $0.50 to the current levels of $4.00-$4.20, forming a large top. This occurred with increasing volatility and sustained dominance above the Bollinger Band mid-line.

However, since that peak, the market has entered the distribution phase and then continued to fall. The current price is approximately $0.97, which is significantly lower than the 20-week simple moving average of $1.68.

Despite several attempts to break above the moving average, the result has been unsuccessful, indicating that this is a strong resistance area. Each time the price has attempted to bounce, it has done so below the moving average, which is keeping the bearish trend dominant.

During the breakdown, there was a large red candle, which is typically indicative of big profit-taking or an institutional exit. Rather than a dramatic fall, the market has experienced a more gradual decline, which is indicative of continued selling pressure rather than panic selling.

RSI Weakness and Key Levels Ahead

Momentum indicators are weak. The weekly RSI is in the 31-35 range, close to oversold but not yet showing clear divergence. In the previous uptrend, the RSI corrections remained above 40-45, but now below 50 is bearish.

Bollinger Bands did expand quite a bit during the fall, but are more stable now. This could indicate that the selling pressure might be abating near the lower band of $0.59. However, without closing above $1.70-$1.80 on a weekly chart, it is only a correction.

Currently, the immediate support level is at $1.00. If that is breached, it could fall to $0.60 and further to the lower levels. If it holds above $0.90-$1.00 and forms a higher low, that would be the beginning of a reversal.

Read More: SUI Breakout Signals Potential 15% Rally to $1.16