🚀 $SUI Technical Analysis May 16, 2025: BULLS SHOWING STRENGTH, PRICE TESTING RESISTANCE NEAR $3.9102 🔥
📊 Market Insight • Current Price: 3.9102 USDT • Moving Averages (MAs) are signaling a bullish short-term trend. • Volume is moderate at 832,574.9 SUI, indicating steady trading activity, with the recent uptick suggesting buying interest is present. • MACD is positive, showing continued upward strength. • RSI values are in the neutral to slightly overbought zone, suggesting the asset may face resistance soon but isn’t overbought yet, leaving room for potential upside.
📊 Important Levels to Watch 🔼 Resistance Levels: 3.9423 3.9625 4.1379 🔽 Support Levels: 3.6358 3.6118 3.5000
💡 TRADE PLANS: 🐂 Bullish Trade Setup: Continuation above $3.9423 ☑️ Entry Point: $3.9500 (enter if price breaks above 3.9423 with confirmation of bullish momentum) 🎯 Price Target: TP1: $3.9625 TP2: $4.1379 🛑 Stop Loss: $3.8781 (below the MA(7) to manage risk) ⚠️ Confirmation: Look for a strong bullish candle close above 3.9423, a surge in volume, RSI(6) staying above 60, and the MACD maintaining its bullish trend with the DIF staying above the DEA.
🐻 Bearish Trade Setup: Reversal below $3.812 ☑️ Entry Point: $3.8 (enter if price breaks below 3.812 with increased volume and bearish confirmation) 🎯 Price Target: TP1: $3.6358 TP2: $3.6118 🛑 Stop Loss (SL): $3.9423 (above the MA(99) resistance) ⚠️ Confirmation: Watch for a bearish candle pattern (e.g., bearish engulfing), RSI(6) dropping below 50, and a MACD showing a bearish crossover with the DIF moving below the DEA.
📌 Suggestion to Open Positions Today: Consider entering a long position if the price breaks above $3.9423 with bullish confirmation, or a short position if the price breaks below $3.9102 with bearish momentum. Given the proximity to resistance and moderate volume, ensure tight risk management and confirmation before entering trades.
