SUI market analysis today:
1. K-line pattern:
The current price of SUI is 2.2269 USDT, showing a fluctuating upward trend. The short-term support level is 2.10 USDT, and the upper resistance level is 2.30 USDT. The price has tested the resistance of 2.30 USDT many times, but has not yet broken through, indicating that there is strong selling pressure in this area.
If the price breaks through 2.30 USDT, it may rise further to 2.50 USDT or even higher 2.70 USDT; if it fails to break through, the price may pull back to 2.10 USDT, or even further fall to the support level of 2.00 USDT.
2. Technical indicators:
MACD: The MACD fast line diverges above the zero axis, showing that the market's bullish momentum is still strong. If this trend continues, the price may rise further; if the fast line and the slow line begin to converge, be alert to the risk of short-term pullback.
RSI: The current RSI value is 65, indicating that the market sentiment is bullish and has not yet entered the overbought range (above 70). There is still room for upside in the short term, but be wary of the pullback pressure when approaching the overbought range.
EMA: The short-term EMA7 (2.22 USDT) is higher than the EMA30 (2.18 USDT), indicating that the short-term trend is still positive, but the EMA120 forms a strong resistance at 2.30 USDT. If the price breaks through this resistance level, the momentum for further rise will be confirmed.
3. Volume:
The volume increased slightly during the rise, indicating that the buying power is increasing. If the volume continues to increase, it may bring a stronger upward momentum when it breaks through 2.30 USDT.
Operation suggestions:
Long:
Entry point: You can go long when the price pulls back to around 2.15 USDT.
Target stop profit: The first stop profit is set at 2.30 USDT, the second stop profit is set at 2.50 USDT, and the further target stop profit can be set at 2.70 USDT.
Stop loss point: The stop loss is set below 2.00 USDT to prevent the price from falling below the key support area.
Short:
Entry point: If the price fails to break through the resistance at 2.30 USDT, you can short in this area.
Target profit: The first stop profit is set at 2.10 USDT, and the second stop profit is set at 2.00 USDT.
Stop loss point: The stop loss is set above 2.35 USDT to prevent the price from breaking through the resistance.
