Current Price: $3.71
24h Change: -5.60%
24h Range: $3.61 – $3.98
Market Cap: $12.39B
Volume (24h): $1.82B
Circulating Supply: 3.34B SUI
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📊 TECHNICAL OVERVIEW
SUI has experienced a significant rally since early April, peaking at $4.29 on May 12 . However, the momentum is waning, and technical indicators suggest a potential correction:
Bearish Engulfing Candle: A bearish engulfing pattern has formed, indicating potential downward pressure.
Resistance at $4.20: The price struggled to maintain levels above this key resistance, leading to a deviation and subsequent decline.
Support Levels: Immediate support is at $3.20, with a stronger support zone between $3.00 and $3.36.
Indicators:
RSI: Currently at 59.31, suggesting neutral momentum.
MACD: Positive at 0.26, indicating potential bullishness.
Moving Averages:
20-day EMA: $3.62 (Buy signal)
50-day SMA: $2.93 (Buy signal)
200-day SMA: $3.38 (Buy signal)
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🎯 TRADE SETUPS
🔼 LONG POSITION
Entry: Break and close above $3.82 with strong volume.
Targets:
TP1: $3.91
TP2: $4.04
TP3: $4.12
Stop-Loss: $3.61
🔽 SHORT POSITION
Entry: Failure to hold above $3.61, confirmed by increased selling volume.
Targets:
TP1: $3.48
TP2: $3.36
TP3: $3.20
Stop-Loss: $3.82
buy 👉$SUI
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🧠 STRATEGY INSIGHTS
Volume Analysis: Monitor trading volume closely. A breakout or breakdown accompanied by significant volume will confirm the move's strength.
Market Sentiment: Stay updated with broader market trends, as they can influence SUI's price action.
Risk Management: Always use stop-loss orders to manage potential losses and protect capital.
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Trade Responsibly: Ensure proper risk management and stay updated with market news.
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