Technical Analysis: $SUN /USDT
Current Price: $0.02332
Market Overview: SUN/USDT has shown a consolidation phase, with price fluctuations between $0.02190 (support) and $0.02410 (resistance). The momentum indicates potential for short-term recovery if key resistance levels are breached.
Key Indicators:
1. RSI (Relative Strength Index):
Currently near 45, indicating a neutral trend with no overbought or oversold conditions.
2. MACD (Moving Average Convergence Divergence):
A weak bullish crossover is forming on the 4-hour chart, suggesting possible upward momentum.
3. EMA (Exponential Moving Averages):
50 EMA: $0.02300
200 EMA: $0.02380
Price is trading below the 200 EMA but slightly above the 50 EMA, indicating a cautious bullish bias.
Trade Signals: SUN/USDT
Entry Point:
Enter near $0.02320 after confirmation of bullish momentum.
Targets:
1. Target 1: $0.02390 🎯
A minor resistance level that could act as the first breakout zone.
2. Target 2: $0.02450 🎯
Testing the recent swing high; strong profit-taking zone.
3. Target 3: $0.02520 🎯
Breakout level; sustained bullish momentum could push prices toward this key resistance.
Stop Loss:
Place a stop-loss at $0.02250 to manage downside risk.
Trade Momentum:
Short-term: Bullish if price breaks $0.02350.
Mid-term: Neutral with a potential bullish reversal above $0.02410.
Long-term: Bearish unless price sustains above $0.02500.
