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IF YOU ARE TAKING THIS SIGNAL HERE IS THE SCENARIO To decide where to take profit, we need to consider key resistance levels and the recent price action. Based on the SUI/USDT chart you provided (4-hour timeframe), here are potential take-profit levels for both bullish and bearish scenarios: Bullish Scenario (Price rises from $3.44) First Take-Profit (TP1): $3.50 - $3.60 This is a nearby resistance zone where previous price consolidation occurred.A safe level for partial profit-taking if the price moves upward. Second Take-Profit (TP2): $3.75 - $3.80 If the bullish momentum continues, the next resistance is near this range.Look for a sustained breakout above $3.60 with strong volume. Final Take-Profit (TP3): $4.00 A psychological resistance level and a point where sellers may step in strongly.Take full profits if the price reaches this level unless there’s extraordinary bullish momentum. Bearish Scenario (If price fails to sustain above $3.40 and reverses downward): First Take-Profit (TP1): $3.30 A short-term support zone; take partial profit here if shorting or exiting. Second Take-Profit (TP2): $3.20 A stronger support area where the price consolidated previously. Final Take-Profit (TP3): $3.00 A major round-number support, and a likely target if bearish momentum increases. Risk-Reward Consideration: Stop Loss for Bullish Positions: Set below $3.30 to manage risk.Stop Loss for Bearish Positions: Set above $3.50 in case of a breakout. $SUI
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Analyzing a price chart requires consideration of several technical indicators, price trends, and patterns. Based on the provided screenshot of the SUI/USDT chart with a 4-hour timeframe, here’s a breakdown: Observations: Moving Averages (MA): The 7-period MA (yellow) is below the 25-period MA (purple) and the 99-period MA (blue), indicating a bearish trend in the short term.However, the recent price movement has broken above the 7-period MA, suggesting short-term bullish momentum. Recent Price Action: The chart shows a reversal candlestick pattern (strong bullish candle following a downward movement). This could indicate the start of a recovery.The price is currently testing the 25-period moving average. Trend Context: The broader trend before the recent drop appears to be sideways to bearish.If the price sustains above the 25-MA, it might lead to a short-term bullish move targeting the 3.50–3.60 range. Failing to sustain above this MA might lead to a continuation of the bearish trend. Prediction: Short-term: If the price stays above $3.40 and maintains momentum, it could test resistance around $3.50-$3.60. This signals a potential short-term bullish trend.Medium-term: If it fails to break resistance and falls below $3.30, the bearish trend could continue, with a potential drop toward $3.20 or $3.00. Recommendation: Bullish Scenario: Look for a break and hold above $3.50 on strong volume.Bearish Scenario: A drop below $3.30 with high selling pressure would confirm continued bearishness.
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JUST IN: JUST IN: $872 billion Standard Chartered bank says $125,000 #Bitcoin by end of year is still in play despite the dip 🚀
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I am not against memes, but meme coins are getting "a little" weird now. Let's build real applications using blockchain.
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