$SUI /USDT Trading Signal Analysis: Short & Long Timeframes

📉 Current Price: $4.7519

🔝 24h High: $5.1717

🔻 24h Low: $4.6600

💰 24h Volume: 350.25M USDT

⚙️ Layer 1

Short-Term (4H)

Price Change: -0.0333 (-0.70%)

The price has experienced a small decline over the last 4 hours, moving from $4.7852 to $4.7519.

Risk: The market is showing a downward trend in the short term, with immediate support near $4.6600 and resistance around $4.8000. A breakout below $4.6600 could indicate further downside risk, while a move above $4.8000 might signal a short-term rally.

Long-Term (24H)

Price Change: -6.39%

Over the past 24 hours, SUI has seen a notable drop from its high of $5.1717, reflecting bearish market sentiment.

Outlook: The price is approaching key support near $4.6600, which could act as a potential reversal point. If the price holds at this level, there may be opportunities for a rebound. However, a further break below $4.6600 could see the price testing lower levels.

Profit or Loss?

Short-Term: The price decline of 0.70% over the last 4 hours suggests that bearish momentum is still present. If $4.6600 holds, it could present a buying opportunity, targeting a move back towards $4.8000.

Long-Term: With the 6.39% drop in the past 24 hours, the market is showing some weakness. However, if the price stabilizes near $4.6600, it could provide an opportunity to accumulate SUI tokens for potential longer-term gains.

Strategy:

Short-Term: Watch the support level at $4.6600 for any potential bounce or breakdown. If it holds, target $4.8000 as a short-term resistance level.

Long-Term: If the price consolidates around $4.6600 and shows signs of recovery, it could be an opportunity for longer-term accumulation. However, stay cautious of further downward movement if the price fails to stabilize.

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