🔍 SUI Consolidates Near Critical Levels: Bearish Signals Emerge on 1-Hour Chart 📈

$SUI is currently navigating a tight trading range, reflecting a tug-of-war between buyers and sellers. With recent closing prices showing a slight downward bias, the market is at a crossroads. 

Key Levels to Watch:

- Resistance: Immediate at $2.049, with stronger levels at $2.0589 and $2.107.

- Support: Immediate at $2.0173, followed by $1.9847 and $1.9467.

Technical Indicators:

- EMA: The 9 EMA is slightly above the 20 EMA, hinting at potential bullish momentum, but the narrowing gap suggests indecision.

- MACD: Increasing bearish momentum indicates a cautious outlook, with a potential bearish crossover looming.

- RSI: Currently hovering between 58.55 and 61.67, indicating neutral to slightly bullish sentiment, but a drop below 50 could signal a shift.

Trade Considerations:

- Bullish Scenario: A break above $2.049 could lead to targets of $2.0589 and $2.107.

- Bearish Scenario: A drop below $2.0173 may open opportunities for short sellers targeting $1.9847 or $1.9467. #SUI