#SUIUSDT 🎇 Does $SUI Break its up momentum 🤔
Here's an 8-hour technical analysis to assess the potential for a short sell:
📉 1-Hour Technical Analysis
Price Action & Market Sentiment
Current Price:
Intraday High: 4.25
Intraday Low: 3.84
Recent Trend: 3.84
Technical Indicators
Relative Strength Index (RSI): Currently at 39.50, approaching oversold territory, which may indicate a potential for a short-term rebound.
Moving Average Convergence Divergence (MACD):
At -0.0289, suggesting bearish momentum.
Moving Averages: All moving averages (10-200 periods) are below the current price, indicating a bearish trend.
Support and Resistance Levels
Support: $3.83 (recent low)
Resistance: $4.25 (intraday high)
✅ Short-Sell Outlook : The 1-hour chart indicates a bearish trend with all moving averages below the current price and a negative MACD. However, the RSI approaching oversold levels suggests caution, as a short-term rebound could occur.
Recommended Strategy:
Entry Point: Consider entering a short position if the price fails to break above the $4.25 resistance.
Stop-Loss: Place a stop-loss above the $4.03 resistance to manage risk.
Take-Profit: Target the $3.64 support level for potential profit.
Insight : This is not financial advice based of all momentum indicator. breakout structure and weak treader interest sign potential short signal. trade with caution all asset consolidation mode with bearish bias ahead of US CPI data.
