#SUI Next, I analyze the recent movement and evaluate what to expect based on this timeframe.
Technical analysis on 4H:
1. Current trend:
• EMA 20 (4.1768): The price has broken this dynamic resistance and is moving above it, indicating a positive change in the short-term structure.
• EMA 55 (4.2707): The price is also breaking this EMA, reinforcing the possibility of a sustained bullish movement.
2. Volume:
• The increase in volume in the last bullish candles indicates significant buying interest.
• This suggests that the movement has strength behind it and is not just a technical bounce.
3. Key supports and resistances:
• Immediate resistance: 4.50, an important level that could act as a short-term target.
• Nearby support: 4.25 (EMA 55), which could now act as dynamic support if the price retraces.
• Strong support: 4.00-4.05, which coincides with your previous entry and could be a key level in case of a correction.
4. Possible scenarios:
1. Bullish scenario (most likely):
• If the price closes above 4.27 (EMA 55), it is likely to seek resistance at 4.50. If this level is exceeded, the next target could be 4.60.
2. Retracement scenario:
• The price could retrace towards 4.25 (EMA 55) to confirm support before continuing upward.
3. Bearish scenario (less likely):
• If the price falls back below 4.25, it could seek support at 4.05-4.00.
Recommendations:
1. Maintain your long position in spot:
• The current movement suggests bullish strength. As long as the price remains above 4.25, your position remains favorable.
2. Set targets:
• First target: 4.50, immediate key resistance.
• Second target: 4.60, next psychological level.