$SUI /USDT- Bearish Momentum 🔥

Support: $3.63 | Resistance: $3.86

$SUI is currently trading at $3.69, reflecting a 3.66% decline from the previous close. The price has reached an intraday high of $3.86 and a low of $3.63, indicating a bearish trend with potential for further downside movement. A breakdown below the support level could signal further downward movement.

Fibonacci Levels:

Retracement Status: Approaching the 61.8% Fibonacci retracement level.

Price Zones:

Support: $3.63

Resistance: $3.86

A breakdown below the 61.8% retracement level could lead to further downward movement.

RSI:

Value: Not specified in the provided data.

Interpretation: An RSI value above 70 would indicate overbought conditions, suggesting a potential pullback. Conversely, an RSI below 30 would indicate oversold conditions, suggesting a potential buying opportunity.

Entry Zones:

Safer: $3.60 – $3.65

Rationale: Aligns with recent support levels, offering a more conservative entry point.

Aggressive: $3.50 – $3.60

Rationale: Near previous support levels, suitable for traders with higher risk tolerance.

Take-Profit Zones:

TP1: $3.80

Rationale: Previous resistance level, potential for price rejection.

TP2: $3.90

Rationale: Next major resistance level, potential for further upward movement.

Stop-Loss Ideas:

Conservative: $3.40

Rationale: Below recent support levels, minimizing risk in case of a bearish reversal.

Tight: $3.50

Rationale: Just below immediate support, suitable for short-term traders seeking to limit potential losses.