Sui price action shows bearish pressure after $60.1K liquidated long at $3.748

SUI’s recent liquidity event points to renewed bearish momentum in the near term. A $60.1K long liquidation at $3.748 implies sellers had sufficient conviction to push the price lower, indicating risk-off sentiment or a shift in positioning among active traders. This kind of move can precede additional downside if it coincides with breakouts of support levels or deteriorating on-chain metrics (e.g., rising realized losses, shrinking open interest).

Key factors to monitor include price action around critical support and resistance bands, volume accompanying further declines, and any worsening macro conditions that could weigh on speculative alts. If the price stabilizes and retests the $3.3–$3.6 zone with dwindling selling pressure, there may be a chance for consolidation or a cautious bounce. Without a clear reversal signal, the risk remains tilted to the downside in the near term.

Overall, the event signals caution for long exposure in SUI. Traders should consider risk controls, such as tight stops above recent highs or hedges, and avoid aggressive long bets until price action confirms a sustainable bottom or a bullish reversal pattern.