🚀 $SUI Technical Analysis May 12, 2025: BEARS GAINING MOMENTUM, TESTING KEY SUPPORT NEAR $3.89 🔥

📊 Market Insight
• Current Price: 3.9829
• Moving Averages (MAs): THe MA(7) is above the MA(25), showing short-term bullishness, while the MA(99) lags significantly, confirming a longer-term uptrend but with recent volatility.
• Volume: The 4H chart shows a sharp drop in volume, indicating consolidation or lack of momentum.
• MACD is negative, indicating stronger bearish momentum.
• RSI:

RSI(6): 34.4814

RSI(12): 44.1271

RSI(24): 48.0200

The RSI(6) is nearing oversold territory (below 40), indicating potential for a bounce if buying pressure returns.

📊 Important Levels to Watch
🔼 Resistance Levels:

4.0930

4.1870
4.2740
🔽 Support Levels:

3.8902

3.8454

3.753

💡 TRADE PLANS:
🐂 Bullish Trade Setup: Bounce from Support at $3.8902
☑️ Entry Point: $3.9000 (enter if price holds above 3.8902 with increased volume)
🎯 Price Target:
- TP1: $4.0930
- TP2: $4.1870
🛑 Stop Loss: $3.8454 (below recent support to manage risk)
⚠️ Confirmation: Look for a strong bullish candle close above 3.9000, a spike in volume, and a MACD line trending upward with the DIF crossing above the DEA. RSI(6) on the 4H chart should rise above 40.

🐻 Bearish Trade Setup: Breakdown below $3.8902
☑️ Entry Point: $3.8800 (enter if price breaks below 3.8902 with increased volume)
🎯 Price Target:
- TP1: $3.8454
- TP2: $3.753
🛑 Stop Loss (SL): $3.9000 (above the support-turned-resistance)
⚠️ Confirmation: Watch for a bearish candle pattern (e.g., strong bearish candle or breakdown confirmation), RSI(6) on the 4H chart dropping further below 30, and a MACD bearish continuation with the DIF staying below the DEA.

📌 Suggestion to open positions today: Traders should wait for a clear breakdown below 3.8902 for a bearish setup or a bounce with strong volume for a bullish setup. The oversold RSI(6) on the 4H chart suggests a potential bounce, but confirmation is key given the bearish signals.

#sui #SUI🔥 #dailyearnings #signaladvisor