SUI market analysis today:
1. K-line pattern:
The current price of SUI is around 1.1936 USDT. The price has experienced a volatile rise recently and successfully broke through the short-term resistance level of 1.18 USDT. Currently, short-term resistance is formed near 1.20 USDT.
The overall trend shows a short-term upward trend, but there may be some selling pressure in the 1.20 USDT range. Be alert to the price correction after approaching this important level.
2. Technical indicators:
MACD: The MACD indicator shows that the fast line continues to cross the slow line and runs above the 0 axis, indicating that the market bulls are strong and the momentum has not yet decayed.
RSI: RSI is currently around 65, indicating that the market is in a healthy upward trend and has not yet entered the overbought area. There is still room for growth in the short term, but be alert to the risk of a correction when it approaches 70.
EMA: EMA7 (1.185 USDT) is higher than EMA30 (1.17 USDT), showing that the market has a clear upward trend in the short term. EMA120 (1.21 USDT) is an important resistance level, which may suppress further price increases.
3. Trading volume:
Trading volume remains stable during the price increase, indicating a high degree of market participation. If the price breaks through 1.20 USDT, the trading volume continues to increase, which may push the price further up to around 1.25 USDT.
Operation suggestions:
Long strategy: When the price pulls back to 1.185 USDT, you can consider going long, with the target profit target set at 1.21 USDT and the stop loss set at 1.17 USDT to prevent a sharp correction in the market.
Short strategy: If the price encounters resistance near 1.20 USDT and the trading volume shrinks, you can consider shorting in the short term, with the target profit target set at 1.18 USDT and the stop loss set at 1.22 USDT.
