CryptoNikkoid

#SUI / USDT long trade setup

Long
CryptoNikkoid Updated   
BINANCE:SUIUSDT   SUI / TetherUS
SUI was dumped by its VCs after a 20% token unlock on May 9th. This created prolonged selling pressure.

However, this project is a major new L1 blockchain, and this dump has actually created a good buying opportunity.

SUI is poised to recover. There is still some selling pressure, as seen in the price action, so do not expect it to go to the moon like $PEPE. That is why I set my targets relatively low. I will update if the plan is successful.

My price target for the bull run for SUI is between $8 and $10, so SUI at $1.05 is really cheap in my opinion.

This is not financial advice. Do your own research (DYOR).
Trade active:
TP 1 reached
Trade closed manually:
We got a nice pump to TP1 then catastrophe. BTC got a 1% pull back and SUI went back to $0.01. I close this thread. We reached TP1 so it is not that negative, however, this coin is heavily dumped, it is a risk to long atm. It will take more time for this coin to get back. I will monitor it.
Trade active:
SUI is finally raising and reached TP2! Better late than never, we are close to TP 3 so I keep this trade active until we get to the end of it.
Trade closed: target reached:
SUI reached our 3rd target, so I close this idea. A BTC drop has changed the market conditions, dropping temporary SUI down to 0.098!!! It is recovering but SUI needs a new fresh idea based on these new market conditions. I hope you enjoyed the ride to TP3! Follow me for more!

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