Buy now or wait for a price drop?

$SUI Technical Analysis - Binance

As of the latest data, the $SUI trading pair has shown positive momentum, with a notable +6.88% price increase in the last 24 hours. Here's a detailed analysis of the current market conditions and potential targets:

Current Price and Key Levels:

Current Price: 4.7366 USDT

24h High: 4.9600 USDT

24h Low: 4.4267 USDT

The $SUI pair is currently trading near its 24-hour high, indicating strong buying interest in the market. The 24-hour price range between 4.4267 and 4.9600 USDT shows a healthy level of volatility, suggesting potential for further movement in either direction.

Volume and Liquidity:

24h Trading Volume (SUI): 71.06 million SUI

24h Trading Volume (USDT): 335.42 million USDT

Volume remains solid, with over 71 million SUI tokens traded in the past 24 hours, demonstrating robust market participation and liquidity.

Moving Averages (MA):

MA (7): 4.7041 USDT

MA (25): 4.6486 USDT

MA (99): 4.0603 USDT

The 7-period moving average (4.7041 USDT) is above both the 25-period (4.6486 USDT) and 99-period (4.0603 USDT) moving averages, suggesting that the market sentiment is currently bullish. The price being above these key moving averages further supports the positive trend, indicating potential for upward continuation.

Market Depth:

Best Bid: 4.7366 USDT

Best Ask: 5.0349 USDT

The market depth shows a tight spread between the bid and ask prices, suggesting that the current market is efficient with limited slippage. However, the ask price of 5.0349 USDT indicates potential resistance at this level, and a break above this could signal further bullish movement.

Target Levels:

Immediate Resistance: 4.9600 USDT (previous 24-hour high)

Next Resistance: 5.0349 USDT (market depth)

If the price manages to break through the 4.9600 USDT resistance, the next target would likely be the 5.0349 USDT level, where the market depth suggests strong sell orders.

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