SUI Price Analysis: Will the Pullback Hold Above Support?
$SUI

Moving Average (MA) and VWAPMA 200: The price is currently trading well above the MA 200 at approximately 1.6593, which serves as a long-term support level. This distance from the MA 200 highlights strong bullish momentum.

VWAP: Positioned at 2.1407, with the price slightly below this level. This suggests some potential short-term bearish sentiment, especially after the recent rally.

Relative Strength Index (RSI)The RSI on the 4-hour chart is around 39.39, indicating a neutral-to-bearish outlook. This level suggests there is room for further decline before reaching oversold conditions.

Moving Average Convergence Divergence (MACD)The MACD line is below the signal line, with a negative histogram. This bearish crossover suggests that downward momentum may be building. Further monitoring of this divergence could provide additional insights into the strength of this potential pullback.

Cluster Analysis and Support/Resistance LevelsSupport Zone: Key support is identified between 1.900 - 2.000, where the price may find buying interest if the current pullback continues.Resistance Zone: Immediate resistance is seen around 2.150 - 2.250. A rally back above this level with high volume could suggest a continuation towards 2.400.

Bullish ScenarioIf the price can hold above the 2.000 support level, a rebound towards 2.150 - 2.250 is possible. Sustained trading above VWAP would further affirm a bullish bias.

Bearish ScenarioA failure to maintain support above 2.000 could lead to a decline towards the next support zone near 1.800 - 1.900. Increased selling pressure below this level could open the door for a further correction towards 1.600.

Disclaimer

This analysis is for informational purposes only and should not be considered as financial advice. Please conduct your own research and consult with a qualified financial advisor before making any investment decisions.