$SUI /USDT Technical Analysis

Current Price: $4.15 (down by 1.99% in the last 24 hours)

Trend: Bearish short-term with a potential for consolidation or a reversal if it holds above the support level.

Support & Resistance Levels

Support (Strong): $4.05 – If the price holds above this level, it may show signs of reversal or consolidation.

Resistance (Immediate): $4.30 – The price needs to break above this level for an upward move.

Resistance (Major): $4.50 – A key level for the bulls to aim for if the market sentiment improves.

Target Levels 🎯

1. Target 1: $4.25 – A short-term bullish target if the price manages to break above the immediate resistance.

2. Target 2: $4.40 – A mid-term target if the bullish momentum persists.

3. Target 3: $4.50 – A long-term target if the price continues its upward momentum and breaks major resistance.

Trade Momentum

Short-Term: Bearish momentum is observed with a 15-minute decrease of 3.03%. Caution is advised until the support level at $4.05 holds.

Medium-Term: Neutral to slightly bearish, waiting for a clear breakout above $4.30 for bullish confirmation.

Long-Term: Bullish potential remains, but market must show strength above $4.30.

Trade Signal

Buy Signal: Enter around $4.05 if the price holds above this level for a potential reversal. Set a stop-loss at $3.95.

Sell Signal: If the price fails to break $4.30, consider selling with a target around $4.05 or lower if the trend continues.

Be aware of the fluctuating momentum, and adjust your strategy as the price action evolves.

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