SUI market analysis today:
1. K-line pattern:
SUI is currently priced at 2.0400 USDT on the 12-hour chart, showing a fluctuating upward trend. The short-term support level is about 2.00 USDT, while the upper resistance level is 2.10 USDT. The price has tested the resistance level many times but failed to break through successfully, indicating that the market has strong selling pressure in this range.
If the price can effectively break through 2.10 USDT, it is expected to further test 2.20 USDT; if it fails to break through, it may pull back to the 2.00 USDT support area.
2. Technical indicators:
MACD: At the 12-hour level, the MACD fast line is above the 0 axis, and the fast and slow lines gradually diverge, indicating that the market is in a bullish advantage. If this divergence continues to expand, it may push the price further up; on the contrary, if the fast line gradually approaches the slow line, it is necessary to be alert to the risk of a pullback.
RSI: The current RSI value is 64, indicating that the market sentiment is relatively positive, but close to the overbought area. If the RSI breaks through 70, the market may face the risk of a short-term correction.
EMA: The short-term EMA30 (2.03 USDT) is above the EMA120 (2.00 USDT), indicating that the overall market trend is positive. If the price can break through the EMA7 (2.05 USDT) and stand above it, it will further confirm the upward trend.
3. Volume:
The volume has increased in the past rise, showing the strengthening of buying power. If the volume continues to increase, the possibility of the price breaking through 2.10 USDT will be greatly increased.
Operational suggestions:
Long strategy: When the price pulls back to around 2.02 USDT, you can consider going long, with the target take profit set at 2.10 USDT and the stop loss set below 2.00 USDT.
Short strategy: If the price fails to break through effectively at 2.10 USDT, you can go short in this area, with the target take profit set at the 2.00 USDT support level and the stop loss set above 2.12 USDT.
The above views are for reference only and are not investment advice.
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