đ SUI/USDT - Breaking New Highs with Momentum đ
SUI/USDT is experiencing a strong rally, currently trading at $2.2263 with an 8.42% increase. The breakout above previous resistance levels suggests continued bullish momentum, with potential for further gains if it maintains this upward trajectory.
đ„ Key Observations:
Bullish OBs: Strong buying areas identified around $1.9517 and $1.9824, providing critical support during the recent rally.
New Highs Tested: The price touched $2.2741, indicating significant bullish interest but also facing overhead resistance.
Trendline and Momentum: The price is following a green upward trendline, maintaining the bullish structure with higher highs and higher lows.
đŻ Long Setup:
đ Entry for Long: Look for long entries near $2.2000 - $2.2200 if the price holds above the trendline with confirmation from volume and momentum indicators.
đŻ Take Profit Targets for Long:
1. TP1: $2.2741 â Retest of the recent high.
2. TP2: $2.3000 â Psychological and technical level.
3. TP3: $2.4000 â Extended target in case of sustained bullish momentum.
đĄïž Stop Loss for Long: Place a stop loss below $1.9824 to safeguard against unexpected volatility.
đ Short Setup (In Case of Rejection):
đ Entry for Short: Consider shorting if the price fails to maintain levels above $2.2200 and shows signs of reversal.
đŻ Take Profit Targets for Short:
1. TP1: $2.0000 â First pullback zone.
2. TP2: $1.9517 â Strong support area.
3. TP3: $1.8333 â An extended target for further correction.
đĄïž Stop Loss for Short: Set a stop loss above $2.2800 to limit losses in case of a bullish breakout continuation.
đ Market Sentiment: SUI/USDT is in a strong uptrend, but traders should watch for potential exhaustion near the recent highs. A breakout above $2.2741 could spark another leg up, while failure to sustain these levels may lead to a pullback toward lower supports.
