🚀 $SUI Technical Analysis May 9, 2025: PUSHING TOWARDS $4.1000 RESISTANCE 🔥

📊 Market Insight
• Current Price: 3.9935 USDT.
• Moving Averages (MAs):
MA(7): 3.8341
MA(25): 3.4833
MA(99): 3.4217
The upward slope of the MAs, particularly with the shorter-term MA(7) significantly above the longer-term MAs, indicates a strong bullish trend.

• Volume: The recent volume (10.40M SUI) is substantially higher than the MA(5) at 3.24M SUI and MA(10) at 3.84M SUI, showing strong buying momentum.
• MACD Line:
MACD: 0.0749 (DIF: 0.1512, DEA: 0.0762)
The MACD line is positive, indicating strong bullish momentum. • RSI:
RSI(6): 82.5065
RSI(12): 76.1110
RSI(24): 67.8087
The RSI is in overbought territory, particularly with the RSI(6) above 80.

📊 Important Levels to Watch
🔼 Resistance Levels:

4.1000 (24-hour high and recent peak)

4.1434 (next psychological level)

4.2500

🔽 Support Levels:

3.8341 (MA7)

3.5078 (recent consolidation zone)

3.4833 (MA25)

💡 TRADE PLANS:
🐂 Bullish Trade Setup: Breakout above $4.1000
☑️ Entry Point: $4.1100 (entry if price breaks above 4.1000 with sustained volume)
🎯 Price Target:
TP1: $4.1434
TP2: $4.2500
🛑 Stop Loss: $3.8200 (below MA7 to manage risk)
⚠️ Confirmation: Look for a strong bullish candle close above 4.1000, continued high volume, and a MACD histogram showing sustained momentum. Be cautious of RSI overbought signals.

🐻 Bearish Trade Setup: Rejection at $4.1000
☑️ Entry Point: $3.9700 (entry if price fails to break 4.1000 and shows bearish rejection with a volume spike)
🎯 Price Target:
TP1: $3.8341 (MA7)
TP2: $3.5078 (recent consolidation zone)
🛑 Stop Loss (SL): $4.1000 (above recent high)
⚠️ Confirmation: Watch for a bearish candle pattern (e.g., shooting star or bearish engulfing), RSI(6) dropping below 75, and increased selling volume.

📌 Suggestion to open positions today: The high volume and positive MACD support a potential continuation, but the overbought RSI (especially RSI(6) at 82.51) suggests caution.

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