$SUI /USDT 4-Hour Chart Analysis đ
SUI/USDT is currently trading at $3.6292, showing a 1.34% increase on the 4-hour timeframe. However, the broader trend paints a different picture. After hitting a high of $3.9599 (24H high), the price faced strong rejection and has since dropped significantly, reflecting a 6.64% decline over the past day.
đ Key Observations:
The chart shows a clear uptrend from May 20 to May 23, with consistent higher highs and higher lows, peaking around $4.2000. However, a sharp reversal followed, marked by large red candles, indicating heavy selling pressure.
Volume spiked during the peak and the subsequent drop, suggesting strong market participation in the sell-off. Current volume (462.57M USDT) remains elevated, hinting at continued activity.
The price is now testing a key support zone around $3.6000-$3.6500. A break below this could lead to further downside toward $3.5233 (24H low) or lower.
đ Bearish Signals:
The sharp decline from $4.2000 and failure to hold above $3.8000 suggest bearish momentum is in control.
The 7-day performance shows a 5.62% drop, reinforcing the short-term bearish sentiment.
đ Bullish Potential:
If the $3.6000 support holds, we might see a bounce back toward $3.8000, a previous resistance-turned-support level.
The 30-day (+20.29%) and 90-day (+5.90%) gains indicate a longer-term bullish trend, so a recovery isnât out of the question if buyers step in.
â ď¸ Outlook:
SUI/USDT is at a critical juncture. Watch for a break below $3.6000 for further downside or a bounce from this level for a potential recovery. Keep an eye on volume trendsârising volume on a bounce could signal a reversal, while increasing volume on a breakdown might confirm the bearish trend.
