SUI/USDT 4H Analysis: Testing New Highs Above Key Support
$SUI

Moving Averages

200-period Simple Moving Average (SMA):

The 200-period SMA on the 4-hour chart is around 1.7060.Current Price Position: SUI/USDT is trading significantly above the 200-period SMA, indicating strong bullish sentiment and an ongoing uptrend.

Relative Strength Index (RSI)

RSI Level:

The RSI is currently at 63.90, just below the overbought threshold.Interpretation: This RSI reading suggests moderate buying pressure, with room for further upside if momentum continues. However, a higher RSI could indicate a need for consolidation if the buying pressure slows.

Moving Average Convergence Divergence (MACD)

MACD Line: 0.0035Signal Line: 0.0947Status: The MACD line is above the signal line, confirming a bullish crossover.Histogram: Positive histogram bars indicate ongoing bullish momentum. An increase in these bars would confirm further upside potential.

Support and Resistance Levels

Immediate Resistance: 2.3000 - 2.4000 – Key resistance zone that could limit immediate upside.Local Support: 2.2000 – May provide a floor if the price experiences a minor pullback.Key Support: 2.0000 – Stronger support level that could stabilize the price if a broader correction happens.

Bullish/Bearish ScenariosBullish Scenario: A sustained breakout above 2.4000 would confirm continued bullish momentum, with potential targets toward 2.6000.Bearish Scenario: If SUI/USDT faces resistance and retraces, it could test support levels around 2.2000 or lower at 2.0000.

Disclaimer

This analysis is for informational purposes only and should not be considered financial advice. Always conduct your own research before making any trading decisions