By: Cold-Zero
In this article, we provide an in-depth technical analysis of $SUI for January 4th, comparing its behavior today with the last two days :
Market Metrics Analysis
15-Minute, 1-Hour, and 4-Hour Charts :
15-Minute Chart: $SUI has exhibited increased volatility, with rapid price movements indicating active trading and potential short-term speculative behavior.1-Hour Chart: The price has been on an upward trajectory, suggesting a bullish sentiment among traders.4-Hour Chart: A sustained uptrend is evident, aligning with broader market optimism and increased investor confidence in $SUI.
Open, Close, and Volume Analysis :
January 1: Open $4.29, Close $4.35, Volume $704MJanuary 2: Open $4.35, Close $4.45, Volume $2.02BJanuary 3: Open $4.45, Close $5.00, Volume $1.82B
The increasing closing prices and trading volumes over the past three days indicate a strong bullish trend. The significant price jump on January 3rd, reaching a high of $5.03, suggests heightened investor interest and potential positive news influencing the market.
Future Projections :
Based on the current momentum and historical data, $SUI is expected to continue its upward trend in the near term. Analysts predict that $SUI could reach approximately $6.09 by January 8, 2025, representing a potential increase of around 30% from the current price.
Liquidation Map Analysis :
While specific liquidation data for $SUI is limited, the recent price surge may have led to the liquidation of short positions, contributing to the upward momentum. Traders should be cautious of potential volatility due to liquidations, especially in leveraged positions.
Pivot Points and Moving Averages:
Pivot Points :
Using the high ($5.03), low ($4.40), and close ($5.00) prices from January 3, 2025, the pivot point for January 4th is calculated as follows:
Pivot Point (P) = (High + Low + Close) / 3
P = ($5.03 + $4.40 + $5.00) / 3
P = $4.81
This pivot point serves as a potential support level, with resistance levels above and support levels below:
Resistance 1 (R1): $5.22Support 1 (S1): $4.59
Moving Averages (MA) :
As of January 4, 2025:
20-Day MA: $4.2050-Day MA: $3.80200-Day MA: $2.50
The current price of $5.00 is trading above all major moving averages, indicating a strong bullish trend. The 20-Day MA crossing above the 50-Day MA further supports this positive momentum.
Conclusion and Projections for Today
Prevision for January 4th
Given the bullish indicators, $SUI is likely to continue its upward movement today. However, traders should monitor key resistance levels and be prepared for potential pullbacks.
Long Position Scenario
Key Resistance Levels:$5.22 (R1)$5.50
Entry Points: Consider entering around the pivot point at $4.81 if the price retraces to this level.Take Profits:First target at $5.22Second target at $5.50
Short Position Scenario:
Key Support Levels:$4.59 (S1)$4.30Entry Points: If the price breaks below the pivot point at $4.81, consider shorting with caution.
Take Profits:First target at $4.59Second target at $4.30
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Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Always conduct your own research before making investment decisions.