As of January 10, 2025, $SUI

/USDT is trading at approximately $4.86, showing a 1.83% increase over the past 24 hours.

Technical Analysis:

Moving Averages (MAs): The 5-day MA is around $4.83, indicating a slight upward trend. The 50-day MA is approximately $3.85, suggesting a strong bullish momentum over the medium term.

Relative Strength Index (RSI): The RSI is at 58.46, which is below the overbought threshold of 70, indicating that the asset is not currently overbought.

Stochastic Oscillator: The %K value is 55.14%, and the %D value is 58.52%, suggesting neutral momentum without clear overbought or oversold conditions.

Trade Signals:

Buy Signals: The alignment of short-term MAs below the current price supports a bullish outlook. Additionally, the RSI below 70 indicates potential for upward movement without immediate overbought concerns.

Sell Signals: There are no immediate sell signals from the current technical indicators.

Trade Momentum and Targets:

Given the bullish indicators, traders might consider the following target levels:

1. Target 1: $5.15 – Aligns with recent resistance levels.

2. Target 2: $5.50 – Represents a psychological resistance point.

3. Target 3: $5.90 – Approaches the asset's all-time high, indicating strong bullish momentum.

Support Levels:

Key support levels to monitor include:

Support 1: $4.50 – Recent 24-hour low.

Support 2: $3.95 – Previous pivot point.

Recommendation:

Traders may consider entering a long position, targeting the levels mentioned above, while setting stop-loss orders below the $4.50 support to manage potential downside risk.

*Note: Cryptocurrency markets are highly volatile. It's essential to conduct thorough research and consider risk management strategies before making trading decisions.*

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