Technical Analysis for $SUI
/USDT:
Current Price: $4.0542
1. Support Levels:
$3.98 (Critical Support)
$4.05 (Near current price)
2. Resistance Levels:
$4.26 (First Resistance)
$4.42 (Strong Resistance)
3. Trend:
Short-Term Trend: Bearish - Price is currently showing a slight downtrend of ~7.01% in the last 24 hours.
Momentum: Decreasing – Negative momentum reflects a consolidation phase or slight downtrend.
4. RSI (Relative Strength Index): Suggests neutral to slightly oversold conditions, indicating potential for a price rebound if it breaks above resistance.
5. MACD: A potential MACD crossover is forming, which could signal a bullish shift if confirmed.
Trade Signal & Targets:
Entry Point: Around $4.05
Target Levels:
1. Target 1: $4.26 (Near resistance level)
2. Target 2: $4.42 (Key resistance for breakout)
3. Target 3: $4.55 (Extension if momentum increases)
Trade Momentum:
If the price breaks above $4.26, the bullish momentum could intensify, pushing toward $4.42 and potentially $4.55.
Stay cautious around the $4.05 support level; a break below may signal deeper retracement towards $3.98.
Risk Management:
Use a stop loss just below $3.98 to protect against potential reversals.