Here is an analysis of the SUI/USDT chart on the 1-hour timeframe:
1. Current Trend
General Trend: Consolidation with bearish pressure is dominant. The price is below the EMA 10, 20, and 50, indicating bearish momentum in the short term.
Price Range: The price is moving in a narrow range between 4.12 (local support) and 4.18 (local resistance).
2. EMA Indicator (50, 20, 10)
EMA 10 and 20 are showing a decline, indicating that the short-term trend is still bearish.
EMA 50 is a dynamic resistance that has not been penetrated by the price.
3. RSI Indicator (14)
RSI is at 42.21, approaching the oversold area. This shows that selling pressure is quite dominant, but the potential for a reversal or upward correction remains if the RSI starts to rise above 50.
4. Support and Resistance Levels
Support:
4.10 – Key support that is a strong foothold.
If the price falls below 4.10, there is potential towards 4.00.
Resistance:
4.18–4.20 – The first resistance around the 50 EMA.
4.25 – The next stronger resistance if a breakout occurs.
5. Potential Scenarios
Bullish (Long):
Entry: If the price manages to breakout 4.18 with a strong bullish candle and large volume.
Target:
4.25 (conservative target).
4.30 (aggressive target).
Stop Loss: Below 4.12.
Bearish (Short):
Entry: If the price breaks down 4.10 with confirmation of a bearish candle.
Target:
4.05 (conservative target).
4.00 (aggressive target).
Stop Loss: Above 4.15.
#NFA🔴 #DYOR🟢 $SUI