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.
SuilendοΏ½οΏ½οΏ½s 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¦.