$SUI

Detailed analysis of the SUI/USDT 4-hour chart based 🔎

1️⃣ Strong Uptrend Momentum 💹

•Current Price: $3.69, up 15% in the last 24 hours 🚀.

•SUI has been in a solid uptrend since early November, breaking key resistance levels.

•Significant jump from $1.59 (October low) to nearly $3.94, showing strong bullish sentiment.

2️⃣ Recent Breakout ⚡

•The price surged past the recent consolidation zone around $3.19, indicating strong buying pressure.

•The recent bounce suggests the breakout is holding, with SUI aiming for new highs.

3️⃣ Resistance and Support Levels 📊

•Key Resistance:

•Around $3.94 (recent high).

•Above this, the next target could be $4.05.

•Support Levels:

•Strong support at $3.19, with another safety net at $2.34 in case of a pullback.

4️⃣ Indicators in Play 🔍

•Volume Spike: Increased trading volume shows growing interest.

•RSI: Potential overbought conditions if RSI was checked. Watch for corrections.

•Bollinger Bands: Price may be nearing the upper band, hinting at possible short-term exhaustion.

5️⃣ Potential Scenarios 🔮

•Bullish Case: Continuation of the breakout. If volume sustains, the next key level is $4.05 and higher.

•Bearish Case: If SUI retraces, expect it to test $3.19. A deeper correction might retest $2.34.

6️⃣ Key Strategy Tips 🎯

•For Bulls: Look for entries on pullbacks near $3.20 or breakouts above $3.94.

•For Bears: Watch for potential reversals near key resistance or if volume fades.

Overall, the chart shows strong bullish momentum, but stay cautious for possible pullbacks as SUI approaches resistance levels! 🚀📈