SUI/USDT Is On Fire 🔥 🔥
Observations:
1. **Trend**: The price is in a short-term **recovery phase**, rebounding from a dip.
2. **Indicators**:
- **MACD**: Shows a potential bullish crossover (positive momentum building).
- **MA**: The price seems below the longer moving averages but crossing above the shorter-term MA (e.g., MA(5)), indicating short-term bullishness.
- **Volume**: Increasing volume with green candles signifies buying interest.
*Strategy**
**1. Long Position**
- **Entry**: If the price sustains above **$3.70**, this indicates continued bullish momentum.
- **Take-Profit**:
- TP1: **$3.75** (previous resistance zone).
- TP2: **$3.82** (next significant resistance level on higher timeframes).
- **Stop-Loss**$3.65** (recent support zone).
- Trade Duration: 2-6 hours, depending on momentum.
2. Short Position
- **Entry**: If the price rejects *$3.70** or breaks below **$3.65**, indicating a bearish reversal.
- **Take-Profit*
- TP1: **$3.60*(recent low).
- TP2: **$3.55* (major support zone).
- **Stop-Loss**: **$3.72** (above key resistance).
- **Trade Duration**: 2-6 hours, depending on momentum
Contingency Plans (Plan A, B, C, D)**
Plan A (For Long Position Going Wrong)**:
- If the price fails to hold **$3.70** and breaks below **$3.65**, cut losses and switch to a short position targeting **$3.60**.
- Adjust SL for the short to **$3.67*
**Plan B (For Short Position Going Wrong)**:
- If the price sustains above **$3.72**, exit the short and flip to a long position targeting **$3.75** and **$3.82**.
- Adjust SL for the long to *$3.68
**Plan C (Range Consolidation)**:
- If the price consolidates between **$3.65** and **$3.70**, avoid entering trades until a clear breakout/breakdown occurs.
- Watch for volume spikes and MACD divergence for confirmation.
*Plan D (Unexpected Volatility)
- If the price moves erratically (e.g., due to news), avoid taking positions unless the direction aligns with the dominant trend confirmed by higher timeframes. #DEXXBreach #USDebt36Trillion $SUI