On October 5, 2024, Lao A conducted in-depth research on [4-hour $SUI price trend analysis].
1. K-line shape analysis
The recent K-line chart of SUI has shown significant volatility. In particular, the K-line on October 3 has obvious long upper and lower shadows, which reflects the fierce competition between the long and short sides of the market. The subsequent K-lines showed that the market was undergoing consolidation, and the price gradually stabilized after falling back from highs.
2. Interpretation of technical indicators
1. MACD indicator: Currently, both DIF and DEA are negative, and the MACD histogram is also in the negative area, which shows that there is still some downward pressure on the market in the short term. However, the gap is gradually narrowing, which could be a sign of an imminent rebound.
2. RSI indicator: The RSI value is close to 50, indicating that the market is in a neutral state.
3. EMA indicator: The price is currently below EMA7, and the relationship between EMA7, EMA30 and EMA120 shows that the short-term trend is weak, while the medium- and long-term trend is still upward.
3. Trading volume observation
On October 4, SUI’s trading volume increased significantly and then decreased. This phenomenon shows that there was great selling pressure in the market in the early stage, but the current market sentiment is gradually stabilizing. Overall, trading volume increases at highs and decreases at lows, reflecting investors' cautious attitude toward high prices.
4. Price trends and buying and selling point suggestions
Judging from the 4-hour price trend, SUI is currently in a sideways consolidation stage. Regarding the buying and selling points, Old A made the following suggestions:
The buying point is set at 1.65 USDT, because the price is close to the previous low, there is strong support, and it is also close to EMA120.
The second buying point is set at 1.60 USDT, which is an integer support and is also the lower edge of the historical fluctuation range.
The long stop loss point is set at 1.55 USDT, which is to avoid further downside risks, especially after falling below the important psychological level of buy point two.
Regarding the selling point, Old A suggested that the first selling point should be set at 1.80 USDT, because this is the recent high area and selling pressure may occur. The second selling point is set at 1.85 USDT, which is the integer pressure level. If it can break through, it is expected to continue upward. The stop-loss point for shorting is set at 1.90 USDT to guard against the risk that market sentiment may turn optimistic after breaking through the selling point two.
