🚀 $SUI Technical Analysis May 17, 2025: BEARS HOLDING FIRM, PRICE NEAR SUPPORT AT $3.67-$3.63 ZONE ⚠️

📊 Market Insight
• Current Price: 3.7831 USDT
• Moving Averages (MAs) are signaling a bearish trend.
• Volume is low compared to the 24H volume of 45.76M SUI. This suggests reduced buying interest, with selling pressure likely contributing to the price decline.
• MACD is bearish, confirming sustained bearish momentum.
• RSI values are in the neutral zone but leaning toward oversold.

📊 Important Levels to Watch
🔼 Resistance Levels:

3.9592

4.1327

4.1900
🔽 Support Levels:

3.6720

3.6358

3.6121

💡 TRADE PLANS:
🐂 Bullish Trade Setup: Reversal above $3.9592
☑️ Entry Point: $3.9650 (enter if price breaks above 3.9592 with bullish momentum confirmation)
🎯 Price Target:

TP1: $4.1327

TP2: $4.1900
🛑 Stop Loss: $3.7583 (below the MA(7) to manage risk)
⚠️ Confirmation: Look for a strong bullish candle close above 3.9592, a surge in volume, RSI(6) rising above 70, and a MACD bullish crossover with the DIF moving above the DEA.

🐻 Bearish Trade Setup: Continuation below $3.67 zone
☑️ Entry Point: $3.6700 (enter if price breaks below 3.6720 with increased volume and bearish confirmation)
🎯 Price Target:

TP1: $3.6358

TP2: $3.6121
🛑 Stop Loss (SL): $3.9592 (above the immediate resistance)
⚠️ Confirmation: Watch for a bearish candle pattern (e.g., bearish engulfing), RSI(6) dropping below 40, and the MACD maintaining its bearish trend with the DIF staying below the DEA.

📌 Suggestion to Open Positions Today:
The price is hovering near a key support zone around $3.67-$3.63. Consider waiting for a clear break below $3.6720 with bearish confirmation for a short position, or look for a strong reversal above $3.9592 for a long position. Given the current bearish momentum and proximity to support, a potential bounce could occur if RSI approaches oversold levels, but confirmation is essential. Tight risk management is recommended due to volatility.

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