$SUI SUI/USDT: Here is the technical analysis for the next 24 hours, along with recommendations for entry buy and stop-loss:
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Analysis
1. Trend and Moving Averages
MA Indicator:
The price is trading above MA(50), indicating medium-term bullish momentum.
The alignment of short-term and long-term MAs supports the continuation of the uptrend if the price stays at current levels.
Volume:
Volume is increasing, which can confirm recent price movements and strengthen the trend.
2. Key Indicators
MACD:
The MACD line is crossing above the signal line, signaling bullish momentum. The histogram also shows positive bars.
RSI:
RSI at 59.10 indicates bullish strength, but there is still room before reaching the overbought zone.
Stochastic RSI:
Stochastic at 63.16 suggests moderate bullish momentum. There is potential for further upside before entering the overbought zone.
Wm%R:
Wm%R at -18.83 indicates the market is approaching the overbought area, requiring caution for aggressive buying.
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Trading Strategy for the Next 24 Hours
Entry Buy
Ideal Entry Point: $3.58–$3.60 (near current support levels or after a minor pullback).
Buy Breakout: If the price breaks above $3.65, a new entry can be considered for higher momentum.
Stop-Loss (SL)
For entry buy at $3.58–$3.60, place a stop-loss at $3.45 to protect against a trend reversal.
For buy breakout above $3.65, place a stop-loss slightly below the breakout point at $3.55.
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Key Levels
Resistance: $3.65 (current high) and $3.70 (psychological level).
Support: $3.58 (recent low) and $3.45 (major support).
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Notes
If the price closes below $3.45 on a higher time frame, it could signal a bearish trend reversal.
Monitor Bitcoin's movement closely, as significant changes in BTC can impact altcoin performance.