$SUI about to explode upwards? Accurate technical analysis with strong targets and smart trading strategy
Technical analysis for SUI/USDT
Current price: 4.095 USDT (+6.16%)
Timeframe: Daily
Technical outlook:
The price is trading near the resistance at 4.10 after a good bounce from support at 3.80, indicating increasing buying pressure.
RSI = 69.9 close to overbought, but has not exceeded it, keeping the door open for further upward movement.
Bollinger Bands: the price is near the upper band, reflecting strong momentum but also calls for caution of a potential correction.
MACD: currently in a weak negative crossover, but the difference is minimal and may reverse if the upward movement continues.
Trading volumes: still good, supporting the likelihood of continued upward movement.
Daily trading strategy for SUI/USDT
1. Concentration Area (Buy):
First area: between 3.90 and 4.00 USDT (in case of a price pullback, considered a strong support area).
Second area (Confirmatory): upon breaking the 4.10 USDT level with a daily close, a signal for continued upward movement.
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2. Take Profit Goals:
TP1: 4.30 USDT – first quick target.
TP2: 4.60 USDT – potential resistance level.
TP3: 4.90 USDT – in case of breaking the previous peak at 4.298, this price can be targeted.
3. Stop Loss:
Safe option: daily close below the 3.80 USDT level.
Dynamic option: breaking the MA20 moving average downwards (currently around 3.807).