$SUI
/USDT Technical Analysis and Trade Signals š šÆ
Current Price: 3.7061
Trend: Bullish (Strong momentum)
Bollinger Bands: Price near the upper band (3.7117), suggesting continuation of the bullish trend, but potential overbought conditions.
SAR (Stop and Reverse): 3.4982, indicating an ongoing bullish reversal.
Key Levels
Support: 3.3339 (Lower Bollinger Band), 3.4982 (SAR)
Resistance: 3.7494 (24h High)
Indicators:
Bollinger Bands (20, 2): Price action is approaching the upper band, which might suggest a short-term overbought condition but does not yet signal reversal.
SAR: Confirming bullish momentum above 3.4982, suggesting no immediate trend reversal.
Volume: The volume is strong, with 96.94M SUI traded in the past 24 hours, indicating healthy buying pressure.
Trade Strategy
Buy Setup:
1. Entry: Consider entering a long position if the price breaks above 3.7494 (24h high) with a confirmed close above this level.
2. Stop Loss: Set a stop loss around 3.4982 (SAR level) to protect against downside risk in case the price reverses.
3. Take Profit: Aim for the following target levels:
First Target: 3.85 (minor resistance level) ā first target to lock in profits.
Second Target: 4.00 (psychological level) ā strong resistance from previous price action.
Third Target: 4.20 ā next major resistance level based on longer-term price action.
Short Setup (if bearish reversal occurs):
1. Entry: If the price breaks below 3.4982 (SAR), and it confirms a downtrend, consider entering a short position.
2. Stop Loss: Set a stop loss just above 3.7494 to manage risk in case the price reverses.
3. Take Profit: Target levels:
First Target: 3.3339 (Lower Bollinger Band).
Second Target: 3.20 (psychological support).
Third Target: 3.10 (next major support zone).
Summary:
Long if the price breaks above 3.7494, with targets at 3.85, 4.00, and 4.20.
Short if the price drops below 3.4982, with targets at 3.3339, 3.20, and 3.10.