technical analysis and trade signal for $SUI /USDT, including three target levels and trade momentum:
Price Overview:
Current Price: $4.31
24h High: $4.3491
24h Low: $3.5657
Price Change (24h): +19.10%
Support and Resistance Levels:
Immediate Support: $4.00 (previous consolidation area, a bounce back is possible around this level)
Immediate Resistance: $4.35 (strong resistance, recent 24h high, could face a pullback around this level)
Key Indicators:
RSI (14): Currently around 65 – approaching overbought conditions, indicating potential for a short-term correction or pullback.
MACD: Bullish crossover above the signal line, suggesting a positive momentum, but watch for any divergence at higher prices.
Volume: Increasing volume over the past 24 hours confirms the uptrend, and if this volume sustains, the bullish momentum may continue.
Trade Signals:
Bullish Signal:
Entry: If the price holds above $4.00 and breaks through the resistance at $4.35, this could signal a continuation of the bullish trend.
Targets:
Target 1: $4.60 (next resistance zone, potential breakout level)
Target 2: $4.85 (psychological resistance level and key Fibonacci extension)
Target 3: $5.00 (next significant round number, potential profit-taking point)
Bearish Signal:
Entry: A drop below $4.00 would signal potential weakness in the trend, and a retest of the $3.50 level is likely.
Targets:
Target 1: $3.80 (immediate support level)
Target 2: $3.50 (key support level, potential reversal zone)
Target 3: $3.20 (next critical support)
Trade Momentum:
The current momentum is bullish, with the price showing strong upward movement supported by increased volume.
Caution: The price is approaching overbought conditions (RSI around 65), so there may be short-term retracements before a sustained rally.
Summary of Trade:
Bullish Trend: Watch for a breakout above $4.35 for potential upside targets of $4.60, $4.85, and $5.00.
Bearish Trend: If the price falls below $4.00, look for possible downside targets of $3.80, $3.50, and $3.20.