🔍 SUI Consolidates Near Critical Levels: Bearish Signals Emerge on 1-Hour Chart 📈
$SUI is currently navigating a tight trading range, reflecting a tug-of-war between buyers and sellers. With recent closing prices showing a slight downward bias, the market is at a crossroads.
Key Levels to Watch:
- Resistance: Immediate at $2.049, with stronger levels at $2.0589 and $2.107.
- Support: Immediate at $2.0173, followed by $1.9847 and $1.9467.
Technical Indicators:
- EMA: The 9 EMA is slightly above the 20 EMA, hinting at potential bullish momentum, but the narrowing gap suggests indecision.
- MACD: Increasing bearish momentum indicates a cautious outlook, with a potential bearish crossover looming.
- RSI: Currently hovering between 58.55 and 61.67, indicating neutral to slightly bullish sentiment, but a drop below 50 could signal a shift.
Trade Considerations:
- Bullish Scenario: A break above $2.049 could lead to targets of $2.0589 and $2.107.
- Bearish Scenario: A drop below $2.0173 may open opportunities for short sellers targeting $1.9847 or $1.9467. #SUI