Summary of Indicators for $SUI đ§
1. Renko Chart: Bullish, showing continued upward momentum with strong green blocks.
2. Bollinger Bands: Approaching the upper band, signaling a possible overbought condition or short-term reversal.
3. SAR (Stop and Reverse): Indicates an uptrend as dots remain below the price action.
4. Moving Averages Crossover (MM/MME): Bullish crossover, confirming upward momentum.
5. MACD: Positive but moderate, indicating steady but not overly aggressive buying momentum.
Resistance: Around $2.40 to $2.50, there is a significant resistance zone. Breaking through this level could trigger a new wave of buying, pushing the price higher.
Support: Key support lies around $2.10, where the price has previously consolidated. If the market reverses, this level may provide a good entry point for buyers looking to get in at a lower price.
1. Bullish Scenario: If SUI/USDT breaks above the $2.50 resistance with strong volume, it could trigger a further rally. Technical indicators still favor the bulls, with momentum on their side.
2. Bearish Scenario: However, if thereâs a rejection around the upper Bollinger band, we might see a pullback towards $2.10 or even $1.80, especially if the MACD starts to show divergence.
The overall technical setup still favors an uptrend, but with caution around current resistance levels.
