🚀 $SUI /USDT: BEARISH TREND IN PROGRESS! 🚀📉
🌟 The $SUI /USDT pair is currently trading at 4.6866 USDT, reflecting a slight decrease of 0.03% in the last hour. The highest price in the last 24 hours is 5.1717 USDT, and the lowest is 4.6600 USDT. With a trading volume of 75.02 million SUI and 367.33 million USDT, the market is highly active but showing bearish sentiment. The 1-hour candlestick chart reveals a consistent downward trend with recent price movements indicating a decline.
Current Market Conditions:
The market is experiencing significant selling pressure, with $SUI/USDT breaking below key support levels. The consistent formation of lower lows and lower highs indicates a strong bearish trend. The price is currently near the support zone at 4.6600 USDT, showing weak investor confidence.
Trade Scenarios:
1. Bullish Scenario 📈:
- Entry: If the price rebounds above 4.7000 USDT
- Take Profit (TP): 4.8500 USDT (next resistance level)
- Stop Loss (SL): 4.6500 USDT (below the support level)
2. Bearish Scenario 📉:
- Entry: Below 4.6600 USDT (if the price falls below this level)
- Take Profit (TP): 4.5000 USDT (next support level)
- Stop Loss (SL): 4.7500 USDT (above the resistance level)
Market Outlook:
The $SUI/USDT pair is currently showing strong bearish signals. Traders should stay vigilant and watch for potential reversals or consolidations around key levels. Monitoring trading volume and market sentiment will be crucial for making informed decisions.
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