🚀 $SUI Technical Analysis June 20, 2025: PRICE STANDS AT $2.7917 WITH BEARISH MOMENTUM 📉
📊 Market Insight
• Current Price: 2.7917 USDT
• Moving Averages (MAs) indicate a bearish trend.
• Volume is notable at 278.905K, with a recent sharp decline suggesting stronger selling pressure compared to buying interest.
• MACD shows a bearish trend.
• RSI values are in oversold territory.
📊 Important Levels to Watch
🔼 Resistance Levels:
2.8568
3.0025
3.1520
🔽 Support Levels:
2.6800
2.6564
2.5000
💡 TRADE PLANS:
🐂 Bullish Trade Setup: Breakout above $2.8568
☑️ Entry Point: $2.8600 (enter if price breaks above 2.8568 with bullish momentum confirmation)
🎯 Price Target:
TP1: $3.0025
TP2: $3.1520
🛑 Stop Loss: $2.8500 (below the resistance to manage risk)
⚠️ Confirmation: Look for a strong bullish candle close above 2.8568, an increase in volume, RSI(6) rising above 30, and MACD showing a bullish crossover with DIF rising above DEA.
🐻 Bearish Trade Setup: Breakdown below $2.6800
☑️ Entry Point: $2.6750 (enter if price breaks below 2.6800 with bearish momentum confirmation)
🎯 Price Target
TP1: $2.6564
TP2: $2.5000 (potential further support level)
🛑 Stop Loss (SL): $2.6900 (above the current support)
⚠️ Confirmation: Watch for a strong bearish candle close below 2.6800, a decline in volume, RSI(6) dropping further below 20, 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 probable given the current price drop below key MAs and the bearish MACD signal, especially if the price breaks below $2.6800 with confirmation. The oversold RSI levels hint at a possible bounce, so caution is advised. For bullish traders, a recovery above $2.8568 could signal a reversal, particularly if supported by increased volume. Given the observed volatility, employing tight stop losses is highly recommended to manage risk.
