$SUI Analysis and Trade Signal on Binance
š Current Price: $4.0796
š Market Overview: SUI is consolidating after facing rejection near $4.76. The price is now testing crucial support levels, presenting potential for either a rebound or further declines.
Key Levels to Watch:
Resistance: $4.60 - $4.76
Support: $4.20 - $4.30
Analysis:
The chart shows SUI testing support around $4.30. If this level holds, a move toward $4.60 is likely. However, a break below $4.20 could lead to further drops towards $4.00 or even lower.
Trade Signal:
Scenario 1: Long Position
Entry Zone: $4.30 - $4.37
Target Prices:
TP1: $4.60
TP2: $4.75
Stop Loss: $4.20
Scenario 2: Short Position
Entry Zone: Below $4.20
Target Prices:
TP1: $4.00
TP2: $3.80
Stop Loss: $4.35
š Strategy:
Watch the price action around the $4.30 level for signs of either a reversal or breakdown. Adjust the stop loss to breakeven after hitting the first target to reduce risk.
ā ļø Risk Management:
Due to high volatility, ensure proper position sizing.
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