1. Technical Analysis & Indicators

Support and Resistance Levels:

The current support level is around 1.0659, as observed from a recent price bounce.

Key resistance levels appear at 2.0036 (24h high) and 2.3680, where the price previously faced a pullback.

Moving Averages:

The MA(5) (yellow line) is above the MA(10) (purple line), suggesting a recent bullish trend.

However, the downward movement in price and the gap narrowing between these MAs indicate potential weakening in bullish momentum.

Significant volume spike noted near the peak price level, which might indicate selling pressure as traders lock in profits.

The overall volume trend remains high, indicating strong interest in this asset.

2. Set Three Target Levels

Target 1 (Short-Term): $1.95

Closest target based on immediate resistance around the current price. If buying pressure returns, the price could revisit this level.

Target 2 (Mid-Term): $2.00 - $2.05

Intermediate target, aligning with the recent 24h high. A move past this could signal a continuation of the bullish trend.

Target 3 (Long-Term): $2.35 - $2.40

Long-term target aligned with major resistance from previous highs. Achieving this level would require strong bullish momentum.

3. Trade Signal Recommendation

Recommendation: Hold / Watch for Buy

Reasoning:

Despite recent declines, the price is close to a support level, and indicators like the MA crossover still favor bullish trends, though momentum has weakened. A clear break above $1.95 or $2.00 could signal a potential buy opportunity. However, if the price drops below $1.82, it may continue lower, signaling a bearish turn.

$SUI

#CryptoAMA #SUI🔥 #Suipriceanaysis #suiunlock #TetherAEDLaunch