In the daily K-line of SUI, a clear oscillation trend has been observed recently, with significant price fluctuations from December 11 to December 20.
A long upper shadow appeared from December 17 to 18, indicating heavy selling pressure above, followed by a price decline in the following days.
From the K-line, it can be seen that SUI's increase since September this year has been very standard, with pullbacks also occurring near the yellow 20 moving average. During these two days of generally deep pullback, SUI also briefly fell below the 20 moving average, showing very bright performance. The subsequent trend may continue the increase since September, so now is a good opportunity to add positions.
MACD: The MACD histogram has turned from positive to negative, with red momentum gradually increasing, indicating weakening bullish strength, and the dual lines forming a death cross, establishing a bearish trend.
RSI: The RSI has gradually retreated from the overbought area, currently around 53, indicating a neutral to strong market sentiment, but further downside risk should be watched.
EMA: The price has fallen below the yellow 20 moving average, indicating signs of weakening short-term trend; in the long term, the EMA60 and EMA120 are still upward, maintaining a bullish arrangement.
Trading volume:
On December 19, trading volume significantly increased to 131068350, accompanied by a price decline, indicating increased outflow pressure. Subsequently, on December 20, the trading volume decreased to 5281203, with increased market wait-and-see sentiment, awaiting new directional guidance.
Short-term trading [Buy/Sell Points]
Buy point one: 3.950 USDT (close to the previous low of December 19 at 3.9339, support may form near the integer level)
Buy point two: 3.850 USDT (further probing into a stronger support area, close to the closing price of December 10 at 3.837, with significant historical buying)
Long position stop-loss point: 3.800 USDT (set stop-loss not far after breaking buy point two, to prevent trend reversal)
Short selling point one: 4.600 USDT (close to the December 18 high of 4.5984, with selling pressure, obvious pressure at the integer level)
Short selling point two: 4.750 USDT (upper resistance after breaking sell point one, close to the December 17 high of 4.868, considering market inertia)
Short selling stop-loss point: 4.800 USDT (set stop-loss not far after breaking sell point two, to avoid further price increases)
$SUI (Contract)
Medium to long-term trading [Buy/Sell Points]
Buy point one: 3.950 USDT (close to the previous low of December 19 at 3.9339, support may form near the integer level)
Buy point two: 3.850 USDT (further probing into a stronger support area, close to the closing price of December 10 at 3.837, with significant historical buying)