SUI market analysis today:
1. K-line pattern:
On the 12-hour chart, the price of SUI is currently at 1.9531 USDT, showing an obvious oscillating upward trend. The lower support level is 1.90 USDT, while the upper resistance level is 2.00 USDT. The price has tested the resistance of 2.00 USDT above several times, but failed to break through effectively, indicating that there is strong selling pressure in this area.
If the price successfully breaks through 2.00 USDT, it is expected to rise further to 2.10 USDT or even higher; if it fails to break through, it may pull back to the 1.90 USDT support area.
2. Technical indicators:
MACD: On the 12-hour level chart, the MACD fast line is above the zero axis and remains upward, indicating that the market has strong bullish momentum. If the fast and slow lines continue to diverge, it may push the price up further; if the fast and slow lines gradually converge, you need to be alert to possible short-term pullbacks.
RSI: RSI is currently 66, indicating that the market sentiment is bullish, but it has not yet entered the overbought area (above 70). There is still room for growth in the short term, but beware of the risk of a pullback when RSI approaches 70.
EMA: EMA7 (1.95 USDT) is higher than EMA30 (1.93 USDT), indicating that the short-term trend is still upward, but EMA120 forms a strong resistance level at 2.00 USDT. If the price can break through and stabilize above this area, it will further confirm the upward trend.
3. Volume:
The volume has increased during the recent rise, indicating that the buying power of the market is increasing. If the price breaks through 2.00 USDT and the volume increases significantly, it may push the price to continue to rise to 2.10 USDT or even higher.
Operational suggestions:
Long strategy: When the price pulls back to around 1.93 USDT, you can consider entering the market to go long, with the target take profit set at 2.00 USDT and the stop loss set below 1.90 USDT.
Short selling strategy: If the price fails to break through 2.00 USDT effectively, you can short sell in this area, with the target profit target set at the 1.90 USDT support level and the stop loss set above 2.03 USDT.
The above views are for reference only and are not intended as investment advice.
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