[Technical Analysis SUI/USDT – May 19, 2025]
Current price: $3.6452, down -4.59% in the last 24 hours.
EMA Indicator (Exponential Moving Average):
EMA 50: $3.7839
EMA 200: $3.8214
Current price is far below both EMA lines, indicating a strong downtrend in both the short and medium term.
MACD:
Both MACD and Signal lines are declining in the negative area.
The red histogram is widening, indicating that bearish momentum is still strong.
RSI (6): 27.53
RSI has entered the oversold area (<30), indicating that SUI is in a state of being oversold.
However, there are no strong reversal signals or directional changes visible yet.
24 Hour High vs Low:
High: $4.0051
Low: $3.6432 (almost touching the current point)
Conclusion & Prediction:
SUI/USDT is in a sharp correction phase and selling pressure remains dominant. Although RSI indicates an oversold condition, there are no strong signals from MACD or price action that a reversal will occur soon.
Advice:
Hold off on entering a BUY until there is confirmation of a reversal from candlestick patterns and MACD starts to curve upwards.
Short-term traders may consider SELL, but must be cautious of potential technical bounces from the oversold area.
Prediction: SHORT TERM = SELL
Wait for confirmation momentum of reversal for a safer BUY.