SUI is currently at a key technical level, having just suffered rejection at a strong resistance area and is currently trading around $2.1771. The market volatility at this stage suggests a strong move is likely to take place soon, with a battle between buyers and sellers taking place at key price levels.
💡 Important Levels to Watch:
Key Resistance: $2.2200 – This is a strong resistance level that SUI needs to overcome to confirm a strong bullish move. A break of this level could spur a rapid increase.
Important Support: $2.1400 – This level acts as a protective zone for the current trend. If the price bounces from this level, it could signal a positive reversal. However, if it breaks through, a bearish correction could begin.
📈 Bullish Scenario (Long Term Trading):
Entry Point: Above $2.2200
Goal: $2,2500
Stop loss: $2,1400
If the $2.2200 resistance level is broken clearly, this will be a signal for the uptrend to continue, opening up a long-term trading opportunity with an attractive risk/reward ratio.
📉 Bearish Scenario (Short Term Trading):
Entry Point: Below $2.1400
Goal: $2,1000
Stop loss: $2,2200
In case $SUI breaks below the $2.1400 support, this could generate strong selling pressure, pushing the price lower and creating a short-term bearish trading opportunity.
⚡ Optimal Strategy: This is the time when traders need to focus fully, carefully analyze support and resistance levels to make decisions. Being sharp and accurate will help you make the most of trading opportunities during this period of strong volatility.
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