🚀 $SUI Technical Analysis May 10, 2025: APPROACHING RESISTANCE NEAR $4.0771 🔥
📊 Market Insight
• Current Price: 3.9876 USDT.
• Moving Averages (MAs):
MA(7): 3.9559
MA(25): 3.9213
MA(99): 3.8651
The upward slope of the MAs, with the MA(7) above the MA(25) and MA(99), indicates a persistent bullish trend.
• Volume:
Recent Volume: 1.104M
MA(5): 1.308M
MA(10): 1.101M
The volume is slightly below the MA(5) but aligns with the MA(10), suggesting steady but not overly aggressive buying pressure.
• MACD Line:
MACD: 0.0087 (DIF: 0.0089, DEA: 0.0002)
The MACD is positive and rising.
• RSI:
RSI(6): 65.1538
RSI(12): 59.2377
RSI(24): 55.7496
The RSI is in neutral to mildly bullish territory.
📊 Important Levels to Watch
🔼 Resistance Levels:
4.0771
4.1434
4.2500
🔽 Support Levels:
3.8511
3.7816
3.6282
💡 TRADE PLANS:
🐂 Bullish Trade Setup: Breakout above $4.0771
☑️ Entry Point: $4.0900 (entry if price breaks above 4.0771 with sustained volume)
🎯 Price Target:
TP1: $4.1434
TP2: $4.2500
🛑 Stop Loss: $3.9000 (below recent consolidation zone to manage risk)
⚠️ Confirmation: Look for a strong bullish candle close above 4.0771, increasing volume, and a rising MACD histogram. Be cautious of the RSI(6) nearing overbought territory.
🐻 Bearish Trade Setup: Rejection at $4.0771
☑️ Entry Point: $3.9500 (entry if price fails to break 4.0771 and shows bearish rejection with a volume spike)
🎯 Price Target:
TP1: $3.8511 (recent consolidation zone)
TP2: $3.7816 (near MA99)
🛑 Stop Loss (SL): $4.0771 (above recent high)
⚠️ Confirmation: Watch for a bearish candle pattern (e.g., shooting star or bearish engulfing), RSI(6) dropping below 60, and increased selling volume.
📌 Suggestion to open positions today: The positive MACD and upward-sloping MAs support a bullish outlook, with the price nearing a key resistance at 4.0771. The volume is steady, and the RSI suggests room for growth before overbought conditions. Consider a bullish setup on a confirmed breakout above 4.0771.
