SUI: After a short-term adjustment, is a new wave of rise coming?
Key support is approaching; is the opportunity worth seizing?
Market Analysis
The current price of SUI is $4.2573, with a daily decline of 4.19%. The price is overall showing a high position oscillation and correction trend, currently testing the MA(25) support level. The RSI indicator is in the range of 42-49, with a weak short-term trend but a possibility of rebound.
Support and Resistance
• Support levels: $4.14, $3.86, $3.55
• Resistance levels: $4.45, $4.75, $4.96
Short-term Trading Strategy
1. Long Position Plan
• Entry: $4.14
• Add Position: $3.86
• Stop Loss: below $3.55
• Take Profit: $4.45, $4.75, $4.96
2. Short Position Plan
• Entry: $4.45
• Add Position: $4.75
• Stop Loss: above $4.96
• Take Profit: $4.14, $3.86, $3.55
My Prediction
If it can hold the $4.14 support, it is expected to rebound to the $4.45 resistance level area; it is recommended to lightly position for long to seek short-term gains; however, if it breaks below $4.14, it may test the $3.86 or even lower support, so caution is advised.
【Welcome to follow, so you don't get lost. Every day I will analyze the trends and points of mainstream coins and popular altcoins. Wishing everyone prosperity and a bountiful year together!】