SUI: Can the Rally Keep Going? 🚀
🎉 Current Price (May 1, 2025): $3.54SUI is heating up on Binance with a 24-hour trading volume of $1.24B (per CoinMarketCap)! After a 61.3% surge last week, will SUI keep climbing? Let’s break it down! 🧐
Technical Outlook 📊
• Support: $3.00 (Fibonacci 61.8% level, strong buy zone).
• Resistance: $4.78 (recent high—breaking this could push SUI to $7).
• RSI: Overbought (around 75), signaling potential correction pressure. 📉
• Moving Averages: 50-day MA ($3.20) as support; 200-day MA ($2.80) as a safety net.
Entry & Exit Points 🎯
• Entry: Buy at $3.20 if it dips—solid support zone! 💪
• Exit: Sell at $4.78 for a 49% profit, or hold for $7 if the momentum continues. 🚀
Risks ⚠️
• Correction Pressure: RSI overbought, price might dip to $3.00 before climbing again.
• Volume Drop: 24-hour volume down 40.5%, hinting the rally might slow down.
Investment Strategy 💸
• Short-Term: Buy at $3.20, sell at $4.78 for a quick gain. 💰
• Long-Term: Hold for $7–$10 if you believe in the bull run predictions (some X users see SUI hitting this if inflows stay strong)! 🌟
TradingView Chart Description 📈
• Pair: SUI/USDT
• Timeframe: Daily
• Indicators: RSI (overbought), 50-day MA ($3.20), 200-day MA ($2.80).
• Levels: Mark support at $3.00 and $3.20, resistance at $4.78.
• Pattern: Price broke out of a falling wedge, now consolidating around $3.54.