$SUI Here is the analysis of the SUI/USDT chart along with entry and stop-loss (SL) recommendations for the next 12 hours:
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Observations:
1. Price Movement:
The current price is $3.4167 and shows signs of consolidation. It is trading near the moving averages (MA7 and MA25), indicating market indecision.
2. Indicators:
RSI (Relative Strength Index): Around 39.53, suggesting the market is close to oversold territory but still neutral.
MACD: The histogram is slightly negative, signaling weak bearish momentum.
Stochastic RSI: %K and %D are intertwined in the mid-range (~41), indicating no clear momentum.
Volume: Fairly stable, indicating limited strong buying or selling pressure.
3. Support and Resistance:
Support: Around $3.40 (recent lows).
Resistance: Around $3.50 (previous highs and psychological level).
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Strategy for the Next 12 Hours:
Entry (Buy):
Entry Price Level: $3.41 - $3.42
This level aligns with current support, providing a good risk-to-reward ratio.
Stop-Loss (SL):
SL Level: $3.39
Place it slightly below the $3.40 support level to protect against potential downside.
Take-Profit (TP):
1. TP1: $3.50 (near resistance).
2. TP2: $3.54 (next significant resistance zone).
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Notes:
1. Monitor the MACD and RSI closely for potential reversals. A crossover or RSI moving above 50 would indicate renewed bullish momentum.
2. Adjust the SL to breakeven after reaching TP1 to minimize risk.
3. If the price breaks below $3.39, avoid re-entry until new support forms.