Binance Technical Analysis: $SUI /USDT
Current Price: $4.2643 (-0.64%)
Timeframe: 30m chart
Analysis Overview:
$SUI /USDT is showing bearish momentum in the short term, with a significant drop from its recent highs. Traders should monitor key support and resistance levels for potential trend reversals or continuations.
Targets
1. Immediate Resistance (Target 1): $4.35
The nearest resistance level based on the most recent price action.
A break above this level could indicate a short-term recovery.
2. Mid-Term Resistance (Target 2): $4.45
A significant level of resistance where previous rejection occurred.
Sustained movement above this level may signal a bullish reversal.
3. Extended Bullish Target (Target 3): $4.60
A strong resistance zone from the previous highs.
Reaching this level would confirm a bullish breakout.
Risk Management
Support Level: $4.15
A critical support area that could act as a pivot point for a rebound.
A break below this level may lead to further downside.
Stop-Loss Suggestion: $4.10 to minimize risks.
Trading Insights:
Short-Term Opportunity: Look for a breakout above $4.35 to target $4.45.
Long-Term Opportunity: Sustained trading above $4.45 could pave the way to $4.60.
Advice: Secure partial profits at $4.45 and adjust stop-loss to $4.30 to lock in gains while managing risks.