IF YOU ARE TAKING THIS SIGNAL HERE IS THE SCENARIO

Analyzing a price chart requires consideration of several technical indicators, price trends, and patterns. Based on the provided screenshot of the SUI/USDT chart with a 4-hour timeframe, here’s a breakdown:
Observations:
Moving Averages (MA):
The 7-period MA (yellow) is below the 25-period MA (purple) and the 99-period MA (blue), indicating a bearish trend in the short term.However, the recent price movement has broken above the 7-period MA, suggesting short-term bullish momentum.
Recent Price Action:
The chart shows a reversal candlestick pattern (strong bullish candle following a downward movement). This could indicate the start of a recovery.The price is currently testing the 25-period moving average.
Trend Context:
The broader trend before the recent drop appears to be sideways to bearish.If the price sustains above the 25-MA, it might lead to a short-term bullish move targeting the 3.50–3.60 range. Failing to sustain above this MA might lead to a continuation of the bearish trend.
Prediction:
Short-term: If the price stays above $3.40 and maintains momentum, it could test resistance around $3.50-$3.60. This signals a potential short-term bullish trend.Medium-term: If it fails to break resistance and falls below $3.30, the bearish trend could continue, with a potential drop toward $3.20 or $3.00.
Recommendation:
Bullish Scenario: Look for a break and hold above $3.50 on strong volume.Bearish Scenario: A drop below $3.30 with high selling pressure would confirm continued bearishness.