$SUI
SUI Market Analysis: Bull and Bear Struggle, Direction Soon to be Clear!
Brothers, SUI's performance in recent days has been quite “stuck”, with bears testing the support of the 50-day moving average ($3.6), while bulls are holding steady. In this battle, who will win? How to choose the direction? Let’s analyze the key points directly!
Current Trend: Bulls and Bears in Struggle, Situation Uncertain
Key Support: On December 19, the price broke below the 20-day moving average ($4.2), but the bears failed to break through the 50-day moving average ($3.6), indicating that buying pressure is supporting from below.
Rebound Signal: A strong rebound near the 50-day moving average indicates active buying at low levels, with bulls attempting to exert force again, but bears are currently holding the pressure level at $5.
Upcoming Key Price Levels
Upward Direction:
If the price rebounds from the current level and breaks through $5, the market could continue to rise.
Target Level: $5.50, then $6.50.
Trend Signal: Rising moving averages suggest buyers still dominate, but a breakout of pressure is needed to confirm momentum recovery.
Downward Direction:
If the price breaks below and closes under the 20-day moving average ($4.2), it may trigger more profit taking.
Key Support: If the 50-day moving average ($3.6) is lost, the downward trend may accelerate to $3.19.
Short-term Outlook? (4-hour Chart Analysis)
Recent Performance: The moving averages are slightly tilted downwards, and the RSI is below the midpoint, indicating continued short-term consolidation.
Range Fluctuation: If the price continues to stay below $4.4, it may first drop towards $4, and even test the support at $3.50.
Key Breakthrough: If the bulls can push the price up and stabilize above the 50-day moving average ($4.4), a challenge to $5 may occur; post-breakout, the target is set at $5.50.
Strategy Suggestions: How to Operate?
Bullish Strategy:
Follow up after the price breaks through and stabilizes at $5, with targets looking towards $5.50-$6.50.
Bearish Strategy:
If the price breaks below $4.2, or the 50-day moving average ($3.6) is lost, consider opening a short position, targeting $3.19.
The current SUI market has significant short-term fluctuations; the key still lies in the breakthrough of support and resistance levels. Wait for signals before acting! Breaking $5 or losing $3.6 is a good opportunity to take action!