Given the current price of
$SUI at $2.34, here's a concise trading plan:
#SUI🔥 #spot - Entry Point: Consider buying above $2.40 with a stop-loss at $2.20 to limit potential losses.
- Stop-Loss: Set at $2.20 to minimize risk, considering the recent support zone at $2.27-$2.29.
- Target: $2.60-$2.80 in the short term, with potential for further growth to $3.00 if the token unlock pressure subsides.
Key Factors:
- Token Unlock: A $147 million token unlock scheduled for November could trigger further selling pressure.
- Technical Indicators: RSI and MACD suggest cautious optimism, but the recent breakdown below $2.41 support level indicates potential downside risk.
- Market Sentiment: SUI's price drop is partly attributed to profit-taking and concerns over the token unlock, but recent partnerships and plans for native stablecoins could boost confidence .
$SUI $DOT #MarketPullback #AltcoinETFsLaunch #TradingSignals