SUI market analysis today:
1. K-line pattern:
On the 1-hour chart, SUI has recently fluctuated in the range of 1.08 to 1.65 USDT, showing a relatively obvious shock consolidation pattern.
In early September, SUI experienced a wave of increases, but then the price pulled back and entered the consolidation stage, and the market long and short sides were temporarily balanced.
2. Technical indicators:
MACD: On the 1-hour chart, the MACD fast and slow lines are currently running below the 0 axis, showing the dominant force of the short market, and the DIF line is slightly lower than the DEA line, indicating that the downward momentum still exists, but there are signs of slowing down.
RSI: RSI14 is around 47, not reaching the overbought or oversold area, indicating that market sentiment is neutral and weak, and may continue to fluctuate in the short term.
EMA: EMA7 (short-term moving average) is slightly higher than EMA30 (medium-term moving average), indicating that SUI has a certain rebound potential in the short term, but EMA120 forms a strong resistance level around 1.65 USDT.
3. Trading volume:
Within the 1-hour level, the trading volume shows a certain volatility. The recent trading volume has increased during the rise, but the trading volume during the callback has decreased relatively, indicating that the market sentiment has become calmer.
[Trading strategy]
Buy point 1: 1.10 USDT (close to the EMA30 support level, it may rebound in the short term).
Buy point 2: 1.08 USDT (the integer level has strong support, suitable as a conservative buy point).
Long stop loss point: 1.05 USDT (to prevent a rapid decline after a false breakthrough, reduce risks).
Sell point 1: 1.65 USDT (close to the EMA120 resistance level, it is recommended to gradually take profits in this area).
Sell point 2: 1.70 USDT (the upper integer level may become a new selling pressure zone).
Short stop loss point: 1.75 USDT (to prevent continued rise after breaking through, suitable as a short stop loss).
The above views are for reference only and are not investment advice.
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