Based on the current chart of SUI/USDT
1. Current Price & Trend
Current Price: $3.5344
Change: -1.05% (slightly bearish)
Price is sitting just below the EMA(7) of $3.5790 and near EMA(21) of $3.5206, showing indecision and potential consolidation.
The 50 EMA is at $3.2093, acting as strong support.
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2. Key Levels
Resistance:
$3.8750 (recent top)
$3.6477 (minor resistance)
Support:
$3.2954 (recent low and EMA support)
$3.2093 (EMA-50)
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3. Indicators
MACD: Bearish Crossover (MACD: -0.0426)
Signals short-term weakness or correction.
RSI(6): 43.48 (near oversold territory)
Could suggest a bounce if it dips more and then reverses.
Volume: Decreasing
Suggests fading momentum—wait for volume confirmation.
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4. Strategy Suggestions
Bullish (if you're looking to buy):
Wait for a breakout above $3.58–$3.60 with volume confirmation.
Target: $3.87 (recent high), then possibly $3.90+
Stop-loss: Around $3.28 or below EMA-50
Bearish (if price fails to break above):
If price breaks below $3.50 and especially $3.29, consider shorting (or exiting long).
Target: $3.21–$3.00 range.
Stop-loss: Around $3.60
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Conclusion
Right now, the chart is neutral-bearish in the short term. A break above $3.58 could trigger a new bullish leg. However, if it loses $3.29, more downside is likely.
Would you like help setting a stop-loss and take-profit order based on this?
