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#Debate2024
---$SUI

🚀 SUI/USDT Long Position Analysis 🚀
I'm entering a long position on SUI/USDT based on the current price action and technical signals observed on the daily chart. The price is trading at $1.0191 (+9.63%) and has successfully broken out of the descending channel, showing bullish momentum.
Key Observations:
🔍 Breakout from Descending Channel: The price has broken above the descending channel that has been in place since May, indicating a potential trend reversal.
📈 Reclaiming Resistance Zone: The SUI/USDT pair has moved above the critical resistance zone around $1.02. A successful hold above this level could signal further upside potential.
💪 Increased Volume: The recent breakout is accompanied by a noticeable increase in trading volume, which supports the strength of the current move.
Potential Targets:
1️⃣ First Target: $1.50 (Next significant resistance level)
2️⃣ Second Target: $2.00 (Psychological level)

Risk Management: I will be keeping a close eye on the $0.86 level for potential stop-loss placement if the price fails to maintain the breakout.
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Excited to see where this move leads! Remember to always manage your risk and trade based on your own analysis. 🧠💼
#Crypto #SUI #USDT #Binance #Trading #CryptoAnalysis #LongPosition #Breakout
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