SUI market analysis today:
K-line pattern: Currently, the SUI price fluctuates around 1.7337 USDT, showing a trend of shock consolidation. The support level is about 1.70 USDT, and the resistance level is 1.75 USDT. The price has tested the resistance many times but failed, indicating that there is strong selling pressure in this area. If it breaks through 1.75 USDT, it may further challenge 1.80 USDT; if it fails to break through, the price may fall back to around 1.70 USDT.
Technical indicators:
-MACD:
The fast line and the slow line are close to the intersection, the market is in a wait-and-see state, and the momentum is weak. The fast line crossing may lead to a short-term rebound, otherwise it may increase the pressure of the callback.
-RSI:
Currently around 55, it is in a neutral area, the market sentiment is relatively balanced, and it is not overbought or oversold. If it breaks through 70, there may be a callback after overbought.
-EMA:
The short-term EMA7 (1.72 USDT) is slightly higher than the EMA30 (1.71 USDT), indicating that there is still room for growth in the short term, but the EMA120 (1.75 USDT) forms a strong resistance and needs to break through to confirm the further upward trend.
Trading volume:
The trading volume has decreased recently, and the market sentiment is more cautious. It may remain volatile in the short term. If the trading volume increases and the price breaks through 1.75 USDT, it may promote further growth.
Operation suggestions:
- Long strategy:
If the price pulls back to around 1.72 USDT, you can consider going long, with the target profit target set at 1.75 USDT and the stop loss set below 1.70 USDT.
- Short strategy:
If it fails to break through 1.75 USDT, you can go short in this area, with the target profit target set at the 1.70 USDT support level and the stop loss set above 1.77 USDT.
