Based on the 4-hour chart of $SUI /USDT
Current Price: The price is $3.2037, showing a slight decline of -0.013 (-0.41%) in the last 4 hours.
Trend: The chart indicates a downward trend over the recent period, with a series of red candlesticks suggesting bearish momentum. However, there’s a slight green candlestick at the end, hinting at a potential short-term reversal or consolidation.
Support and Resistance: The price appears to be testing a support level around $3.20-$3.21. A break below this could lead to further declines toward $3.00. Resistance is likely around $3.28-$3.30, where previous highs were rejected.
Volume: Volume has spiked during the recent drop, indicating strong selling pressure. The Volume SMA shows a decrease in average volume, which might suggest weakening momentum.
Time Frame Performance: Over 7 days, the price is down -2.33%, and over 30 days, it’s down -17%. Longer-term (1 year), it’s up 183.91%, showing significant overall growth despite recent declines.
Indicators: The chart includes a 20-period Moving Average (likely the middle line), which the price is currently below, reinforcing the bearish short-term outlook.
In summary, the short-term outlook is bearish with potential for a bounce if support holds, but a break below $3.20 could signal further downside.
