$SUI SUI/USDT Price Analysis: Navigating the Correction 🔍
At $4.0642 (-7.00%), SUI is facing a correction after hitting a 24H high of $4.4153. The price has dipped close to the $3.9782 support level, signaling potential buying opportunities or further downside pressure. Let’s analyze the trends and key levels for your next move.
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Market Overview
24H High: $4.4153
24H Low: $3.9782
Volume (SUI): 54.15M
Volume (USDT): 224.72M
SUI's recent sell-off has pushed it below the $4.10 resistance zone, with a minor bounce observed near the $3.98 level.
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Key Levels to Watch 📊
Support Levels:
$3.98: Immediate and critical support; a break below this could lead to a deeper correction.
$3.90: Next key support zone, where stronger buyer interest might emerge.
Resistance Levels:
$4.10: Immediate resistance that needs to be reclaimed for bullish momentum.
$4.25: Strong resistance zone and a target for a potential recovery.
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Indicators in Focus
MACD: Bearish momentum is slowing, suggesting a possible reversal or consolidation.
Volume: High sell volume indicates continued selling pressure, but watch for a shift to buying interest at key support levels.
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Trading Strategy
Bullish Scenario:
Entry: $3.98–$4.00 on a successful hold of support.
Targets:
First Target: $4.10
Stretch Target: $4.25
Stop Loss: Below $3.90 to limit downside risk.
Bearish Scenario:
Entry: $4.10–$4.15 if resistance holds.
Targets:
First Target: $3.98
Second Target: $3.90
Stop Loss: Above $4.20.
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Final Thoughts
SUI is currently in a correction phase, testing critical support at $3.98. A bounce from this level could signal a recovery toward $4.10 and beyond, while a breakdown may lead to further downside. Traders should remain cautious and wait for confirmation before entering new positions.
What’s your take on SUI’s next move? Let’s discuss your strategy!