๐ $SUI SUI/USDT โ Retesting Key Support Levels
๐ Current Price: $3.9778 (-9.23%)
๐ 24H High: $4.5984
๐ป 24H Low: $3.9001
๐ฐ Volume:
SUI: 135.87M
USDT: 568.68M
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Market Analysis
SUI/USDT is down over 9% in the past 24 hours, with the price testing the critical support level near $3.90. While the bearish momentum remains strong, buyers appear to be stepping in near the lows, attempting to stabilize the price.
Resistance Levels:
$4.10 โ Immediate resistance; a break above could lead to recovery.
$4.30 โ A significant level to regain bullish momentum.
Support Zone:
$3.90 โ Key support; holding this level is crucial to avoid further decline.
$3.75 โ Next potential support in case of a breakdown.
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Next Moves
1. For Buyers:
Consider entries near $3.90, targeting $4.10 and $4.30 for potential rebounds.
Look for confirmation of volume and stabilization before taking long positions.
2. For Sellers:
Watch for rejection near $4.10 to short, targeting $3.75 as the next support.
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Key Insights
Bearish Momentum: The recent downtrend is driven by strong selling pressure, but oversold conditions could lead to a bounce.
Volume Activity: High trading volume indicates active participation but skewed toward the sell side.
Risk Management: Tight stop-loss orders are recommended in this volatile trading environment.
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Final Thought
SUI/USDT is at a pivotal point. Monitor $3.90 closely for signs of recovery or a potential breakdown. Stay cautious and adapt your trading strategy to the price action.