Where will SUI go today after yesterday's wild surge? Experts deeply analyze the trend!
Yesterday, the SUI price surged dramatically, reaching a high of 4.9942, but unfortunately, there were too many sellers above, and the price quickly dropped, just like climbing to the top of a mountain only to be blown down by a strong wind. This drop revealed the strength of the bears (those predicting a decline), serving as a wake-up call for today's market operations.
Let's take a look at the technical indicators. The short-term moving average MA7 is soaring upwards, but the price has run too far and needs to correct. The medium-term moving average MA30 is still rising, but the price has increased too sharply, and the short-term is a bit overheated.
The Bollinger Bands are like a spring bed; the price has broken through the upper band, and now the spring bed is deformed, needing to bounce back. The MACD indicator shows that the red and green bars (representing buying and selling power) are still rising, but they are starting to lose momentum, so caution is needed for a reversal.
The RSI indicator is even more direct; it has run above 80, which is a signal of overbought conditions, and needs to correct.
With such a strong increase yesterday, SUI is likely to adjust today. Based on the upper resistance and technical indicators, the price may stop in the range of 4.80-4.90 and then slowly decline.
If the price returns to around 4.95, we can short in batches (meaning to sell while anticipating a decline) to make some profit.
First target: 4.75, take some profit. Second target: 4.60, make some more profit. Stop-loss point: 5.10, if the price breaks through this point, we must accept the loss and exit quickly.
If the price breaks through 5.00, it may rise again, so we need to be cautious. Recently, SUI has been like a roller coaster, with significant volatility, so we need to set proper stop-loss points to avoid being thrown out.
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