SUI Evening Market Analysis and Forecast

November 17, 2024

Market Beginning

SUI is currently priced at $3.8110, up 3.2% in the past 24 hours. Market sentiment is active, and trading volume has increased slightly compared to the previous day, indicating that the long and short sides are competing fiercely. In the short term, the SUI price is in the adjustment stage after the breakthrough, and may choose a further direction in the future.

Technical Analysis and Key Points

1. Support level:

• $3.75: An important short-term support. If it falls below, it may fall back to $3.60.

2. Resistance level:

• $3.85: Current short-term resistance, it is expected to test the $4.00 mark after breaking through.

Technical indicators:

• RSI: The current value is 58, indicating that SUI has not yet entered the overbought area, but the bulls have a slight advantage.

• Bollinger Bands: The price runs between the middle and upper rails, and the short-term trend is still bullish.

• MACD: Bullish momentum column continues to increase in volume, and the trend above the zero axis is stable.

Short-term contract strategy (T+0)

Long strategy:

• Entry point: Go long with a light position when it falls back to the support near $3.75.

• Take profit target: The first target is $3.85, and it can go up to $4.00 after breaking through.

• Stop loss: Set below $3.70 to strictly control risks.

Short strategy:

• Entry point: If the price is blocked near $3.85 and does not break through, you can try to go short with a light position.

• Take profit target: The first target is $3.75, and the second target is $3.60.

• Stop loss: Exit quickly after breaking through $3.90.

Summary

SUI currently has a clear fluctuation range, and the support and resistance ranges are clear. Short-term investors can respond flexibly according to market trends. Strictly implementing risk control strategies and grasping key points for layout will be the winning strategy in the current market. $SUI