Technical Analysis and Market Observation
Moving Average System Analysis
Short-Term Moving Average (MA7):
Current price 4.9031 is significantly above the short-term moving average, indicating short-term strength.
The short-term moving average is steeply rising, indicating that bullish forces dominate the market in the short term, but caution should be taken against the risk of a pullback after overheating.
Medium-Term Moving Average (MA30):
Medium-term moving average has been broken, indicating the trend has shifted from consolidation to upward.
The current price is far above the medium-term moving average, indicating positive market sentiment, but the medium-term moving average may struggle to provide effective support.
Long-Term Moving Average (MA100):
The long-term moving average has been effectively broken, and the price has risen significantly, confirming a bullish trend.
Long-term moving average has begun to turn upward, and the market's bullish sentiment for the medium to long term is gradually strengthening.
Bollinger Bands Observation
Upper Track Pressure: Around 5.000, the current price is close to the upper track, be cautious of adjustments after touching the upper track.
Middle Track Support: 4.400, a pullback to this area may be a short-term buying opportunity.
Lower Support: 3.800, the extreme short-term support.
Candlestick Patterns
Yesterday recorded a large bullish candlestick, today the price is close to yesterday's high of 4.9942. If this resistance is breached, it will open up new upward space.
If today's high levels stagnate, be cautious of a pullback to the 4.700-4.600 area.
MACD and RSI
MACD: DIF and DEA form a strong golden cross, and the red momentum bars continue to expand, indicating a significant short-term bullish trend.
RSI: The indicator is above 75, in the overbought area, indicating short-term pullback pressure.
Volume Observation
Yesterday's trading volume significantly increased, showing that bulls are actively pushing the price up.
If today's trading volume cannot continue to increase, be cautious of the possibility of a pullback after a spike.
Today's Trading Suggestions
Trading Direction: Cautiously buy on dips, gradually reduce positions at high levels.
Long Position Setup:
Entry Range: 4.700 ~ 4.800
First Take-Profit Level: 5.000
Second Take-Profit Level: 5.200
Stop-Loss Level: 4.600
SUI's bullish sentiment is relatively strong today, but as the price approaches the key resistance of 5.000, the market may experience short-term fluctuations or pullbacks. In the short term, the price may run in the range of 4.700 ~ 5.000. If it breaks 5.000, it will open up space for an upward move to 5.200; if it fails to break, it may pull back to around 4.600.
Current market sentiment is bullish, but the price is close to the overbought area, so short-term pullback risks should be guarded against.
It is recommended to mainly set up long positions on dips, and appropriately follow up after breaking 5.000; strict stop-loss settings are required for short positions at high levels.
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