Technical Analysis
SUI/USDT (1D) - Binance
June 19
📈 Key Indicators:
- Current Price: 2.80 USDT (🔴 -4.00% in 24h).
- Volume: 11.1M SUI (📉 Below the SMA 9 average).
- RSI(14): 34.89 (Almost in the oversold zone, but without divergence).
- MACD: Bearish crossover (🔴 Negative histogram: -0.119).
- EMA 50 vs Price: Clear resistance (Price below, bearish trend).
- Stochastic (14,1,3): 13.61 (Oversold zone, possible bounce).
- Bollinger Bands: Price near the lower band (Temporary support).
- OBV: Bearish trend (Dominant selling volume).
🎯 Probable Scenarios:
1️⃣ Technical Bounce:
- Signal: Stochastic in oversold + CCI(14) extremely low (-110.36).
- Buy Entry: 2.78 - 2.75 USDT (Historical support zone).
- SL: 2.70 USDT (Below the recent low).
- TP1: 2.85 USDT (EMA 9). TP2: 2.95 USDT (Middle Bollinger Band).
2️⃣ Continued Bearish Trend:
- Signal: MACD and SMA 50 confirm bearish trend.
- If the price breaks 2.75 USDT, next support at 2.60 USDT.
- Sell Entry: 2.73 USDT (Breakdown).
- SL: 2.82 USDT (Above local resistance).
- TP: 2.65 USDT (Projected ATR).
🔍 Key Observations:
- Low volume suggests caution 🚨 (lack of buying interest).
- RSI and Stochastic could trigger a short bounce, but the overall trend is bearish.
- Monitor if the OBV reverses its trend to confirm accumulation.
🛡️ Risk Management:
- Use tight stops (ATR = 0.228 USDT).
- Avoid aggressive entries until the MACD shows a bullish crossover or the price exceeds the EMA 50 (~2.95 USDT).
📢 Seller dominance, but with signs of short-term exhaustion. Ideally, look for bounce opportunities with strict SL or wait for reversal confirmation. 🎯
Remember:
Cryptocurrency trading carries high risk. Always do thorough research and consider using Risk Management.
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vc_custy
🫖☕️😎
