$SUI /USDT is trading at $3.9893, down 4.98% in the last 24 hours, following a strong rally over the past few months. While the price has surged by 395.64% over 180 days, recent selling pressure raises the question: is it time to buy or wait?
Key Insights for Traders:
1. Support and Resistance Levels
Immediate support lies in the $3.5–$3.8 range. If the price holds this zone, it could present a short-term buying opportunity.
Resistance is at $4.2 and beyond. A breakout above this level may signal renewed bullish momentum.
2. Moving Averages (MA)
The 7-day MA at $1.93 reflects bullish momentum, but the price is now consolidating. Watch for a bounce near support or further downward pressure.
3. Volume and Sentiment
Trading volumes remain significant, suggesting strong market interest. However, the pullback indicates profit-taking or cautious sentiment.
What Traders Should Do:
Short-Term Strategy: Wait for confirmation of support around $3.5–$3.8. If the price holds and reverses with higher volumes, a short-term rally could follow.
Long-Term Strategy: If you believe in SUI's fundamentals, consider accumulating on dips, but monitor key support zones closely.
Bottom Line:
Patience is key. Wait for a clear signal—either a bounce from support or a breakout above resistance—before making your move.
