🚀 $SUI Technical Analysis May 18, 2025: BEARS IN CONTROL, PRICE NEAR CRITICAL SUPPORT AT $3.74-$3.63 ZONE ⚠️
📊 Market Insight • Current Price: 3.7490 USDT • Moving Averages (MAs) are indicating a bearish trend • Volume is relatively high at 36.47M SUI over 24 hours, with a USD value of 138.17M, suggesting strong selling pressure with limited buying interest. • MACD is bearish, confirming sustained downward momentum. • RSI values are approaching oversold territory, indicating potential for a reversal if oversold conditions deepen.
📊 Important Levels to Watch 🔼 Resistance Levels: 3.8797 4.0382 4.1900 🔽 Support Levels: 3.6358 3.6166 3.5000
💡 TRADE PLANS: 🐂 Bullish Trade Setup: Reversal above $3.8797 ☑️ Entry Point: $3.8850 (enter if price breaks above 3.8797 with bullish momentum confirmation) 🎯 Price Target: TP1: $4.0382 TP2: $4.1900 🛑 Stop Loss: $3.7749 (below the MA(7) to manage risk) ⚠️ Confirmation: Look for a strong bullish candle close above 3.8797, a spike in volume, RSI(6) rising above 70, and a MACD bullish crossover with the DIF moving above the DEA.
🐻 Bearish Trade Setup: Continuation below $3.6358 ☑️ Entry Point: $3.6300 (enter if price breaks below 3.6358 with increased volume and bearish confirmation) 🎯 Price Target: TP1: $3.6166 TP2: $3.5000 🛑 Stop Loss (SL): $3.8797 (above the immediate resistance) ⚠️ Confirmation: Watch for a bearish candle pattern (e.g., bearish engulfing), RSI(6) dropping below 30, and the MACD maintaining its bearish trend with the DIF staying below the DEA.
📌 Suggestion to Open Positions Today: The price is testing a critical support zone around $3.74-$3.63, with a recent low at 3.6358. Consider waiting for a clear break below $3.6358 with bearish confirmation for a short position, or look for a strong reversal above $3.8797 for a long position. Given the current bearish momentum and proximity to support, exercise caution with tight risk management.
