🚀 $SUI Technical Analysis June 18, 2025: PRICE STANDS AT $2.8420 WITH BEARISH MOMENTUM 📉

📊 Market Insight
• Current Price: 2.8420 USDT
• Moving Averages (MAs) indicate a bearish trend.
• Volume has increased, but the recent price drop reflects stronger selling pressure compared to buying interest.
• MACD shows a bearish trend.
• RSI values are in neutral territory.

📊 Important Levels to Watch
🔼 Resistance Levels:
2.9156 (immediate resistance)
3.0461 (next significant resistance)
3.1589 (higher resistance from earlier peak)
🔽 Support Levels:
2.8028 (recent support level)
2.7849 (next significant support)
2.6808 (recent low acting as a deeper support)

💡 TRADE PLANS:
🐂 Bullish Trade Setup: Breakout above $2.9156
☑️ Entry Point: $2.9200 (enter if price breaks above 2.9156 with bullish momentum confirmation)
🎯 Price Target:
TP1: $3.0461
TP2: $3.1589
🛑 Stop Loss: $2.9100 (below the resistance to manage risk)
⚠️ Confirmation: Look for a strong bullish candle close above 2.9156, an increase in volume, RSI(6) rising above 50, and MACD showing a bullish crossover with DIF rising above DEA.

🐻 Bearish Trade Setup: Breakdown below $2.8028
☑️ Entry Point: $2.8000 (enter if price breaks below 2.8028 with bearish momentum confirmation)
🎯 Price Target
TP1: $2.7849
TP2: $2.6808
🛑 Stop Loss (SL): $2.8100 (above the current support)
⚠️ Confirmation: Watch for a strong bearish candle close below 2.8028, a decline in volume, RSI(6) dropping below 30, and the MACD continuing to show a bearish trend with DIF falling further below DEA.

📌 Suggestion to Open Positions Today:
A bearish setup appears more likely given the current price drop below key MAs and the impending bearish MACD crossover, especially if the price breaks below $2.8028 with confirmation. For bullish traders, a rebound above $2.9156 could signal a recovery, but the current momentum and declining RSI suggest caution. Tight stop losses are highly recommended due to the volatile price action.

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