technical analysis and trade signals for $SUI /USDT based on the data you provided:
SUI/USDT Technical Analysis:
Current Price: 3.4935 USDT
24h High: 3.5200 USDT
24h Low: 3.1783 USDT
24h Change: +5.94%
Support and Resistance Levels:
Immediate Support: 3.1800 USDT (recent 24h low, strong buy support)
Immediate Resistance: 3.5200 USDT (recent 24h high, key resistance)
Trend Analysis:
The market has shown a positive momentum in the last 24 hours (+5.94%), indicating an uptrend. However, there are potential signs of market retracement, as the price fluctuates around key levels, showing both buying and selling pressure.
Trade Signals:
1. Buy Signal:
Entry Price: 3.49 USDT
Target 1: 3.60 USDT (first profit-taking level, 2% gain)
Target 2: 3.75 USDT (second profit-taking level, 7.5% gain)
Target 3: 4.00 USDT (third profit-taking level, 14.5% gain)
Stop Loss: 3.20 USDT (below recent support, 8.3% risk)
2. Sell Signal:
Entry Price: 3.47 USDT (if the price fails to break resistance at 3.52)
Target 1: 3.25 USDT (near the support level)
Target 2: 3.10 USDT (next major support)
Stop Loss: 3.55 USDT (above recent resistance)
Trade Momentum:
Bullish Momentum: The price has shown a +5.94% gain in the last 24 hours, supported by increasing volume and the market favoring layer 1 assets. The buying pressure remains strong, with a solid support zone near 3.18.
Bearish Momentum: A drop below 3.20 could signal bearish pressure, especially if the resistance at 3.52 holds, which could lead to a pullback towards 3.10-3.00.
Conclusion:
Trend: Bullish short-term with moderate retracement risk.
Momentum: Watch for breakouts above 3.52 for more upside or breaks below 3.20 for a bearish setup.
Targets: Focus on 3.60, 3.75, and 4.00 for long positions, with stops below 3.20.
