MILESTONE
$10M+ deposited into the @Bitwise market on @suilendprotocol
Just 5 days after launch, PPLUS is already the largest RWA market on Suilend.
And the timing is interesting.
Suilendβs TVL has been growing rapidly, while RWA adoption on Sui is starting to pick up.
PPLUS is adding another major piece to that narrative ,bringing a Bitwise curated RWA strategy onchain through @EmberProtocol
Sui DeFi is getting bigger, and the RWA side of the ecosystem is starting to get interesting.
PPLUS
Deposit and Earn Here
https://t.co/nbPHBDmpyO
PRICE OUTLOOK FOR $BTC AND $SUI
π° π° π° π° π° FOR $BTC
BTC weekly structure is pretty straightforward.
From the $126.2K high, price formed a series of lower highs and lower lows, with $82.55K being the last major lower high.
Now price has reclaimed that level.
The idea is simple: we want to see $82.55K hold as support. If price retests the level and gives us a clean bullish confirmation/engulfing candle, the next target is $98.05K.
If $98.05K breaks and holds, the next major level is $111.98K.
So for me, the whole setup is:
$82.55K reclaim β retest & hold β bullish confirmation β $98.05K β break $98.05K β $111.98K.
The key level is $82.55K. If the reclaim fails, the setup is invalidβ¦
π π π π π FOR $SUI
$SUI weekly structure is showing the same type of setup.
From the major high, price has been printing lower highs and lower lows all the way down to the $0.5597 low.
That $0.5597 area is where the market started building a base, and price has now begun recovering from it.
The key level for me is the $1.35 β $1.40 area. Thatβs the major resistance/previous lower high zone price needs to reclaim.
If $SUI breaks and holds above that area, then gives us a clean retest with bullish confirmation/engulfing, the next major objective is $3.25.
So the setup is:
$0.56 low β reclaim $1.35β$1.40 β retest & hold β bullish confirmation β $3.25.
The important part is the reclaim. I donβt want to assume the move is confirmed before SUI actually takes back that major structural level.
I will Drop my confirmations on another post
This is As Simplest As I Can Break It Down β¦.