$SUN trading suggestions👇
Short-term Consideration:
SUN is down 12.04% in the past 24 hours but has shown slight upward movement in the last hour (+0.9%). This could hint at a possible rebound or, alternatively, a temporary corrective bounce.
Short-term traders could consider buying a small amount if they anticipate a rebound, especially if the price approaches its 24-hour low of $0.01564. However, given the recent negative trend, this position should be watched closely.
Technical Boundaries:
The 24-hour high at $0.019 serves as an immediate resistance point. If the price approaches this level without significant momentum, it may be a good point to sell and take short-term profits.
Conversely, if the price dips toward $0.01564 or lower without breaking through, this might serve as a buy-back level.
Mid-to-Long-Term View:
Despite recent losses, SUN’s price has increased significantly over the past year (+149%). This suggests it may still have an upward potential if the overall trend continues, especially if the broader crypto market shows bullish momentum.
However, as SUN is trading 70% below its all-time high, any prolonged bearish movement may affect its long-term outlook. Consider setting stop-loss orders to mitigate potential downsides.
Volume Insights:
The 24-hour trading volume is notably high, with a 41% increase, which can indicate strong investor interest. This level of trading activity suggests that there may be more volatility on the horizon.
Risk Management:
SUN’s relatively high Vol/Mkt Cap ratio (24.11%) could mean short-term price swings. Use caution if the aim is a quick turnaround, and limit the position size accordingly.
#SUN
$SUN