🚀 $SUI Technical Analysis July 08, 2025: PRICE STANDS AT $2.8501 WITH BEARISH MOMENTUM 📉
📊 Market Insight • Current Price: 2.8501 USDT • Moving Averages (MAs) show a bearish trend with MA(7) at 2.8494, MA(25) at 2.8783, and MA(99) at 2.8971, indicating short-term downward pressure. • Volume has decreased to 2.92M SUI (24h Vol/USDT 69.31M), suggesting reduced buying activity. • MACD shows a bearish trend with DIF at -0.0152 and DEA at -0.0139. • RSI values are in the neutral territory (RSI(6): 45.7467, RSI(12): 43.5129, RSI(24): 44.8316).
📊 Important Levels to Watch 🔼 Resistance Levels: 2.9686 2.9923 3.0038 🔽 Support Levels: 2.7000 2.6923 2.6500
💡 TRADE PLANS: 🐂 Bullish Trade Setup: Breakout above $2.9686 ☑️ Entry Point: $2.9700 (enter if price breaks above 2.9686 with bullish momentum confirmation) 🎯 Price Target: TP1: $2.9923 TP2: $3.0038 🛑 Stop Loss: $2.9600 (below the resistance to manage risk) ⚠️ Confirmation: Look for a strong bullish candle close above 2.9686, an increase in volume, RSI(6) rising above 50, and MACD showing a bullish crossover with DIF rising above DEA.
🐻 Bearish Trade Setup: Reversal below $2.7000 ☑️ Entry Point: $2.6950 (enter if price drops below 2.7000 with bearish momentum confirmation) 🎯 Price Target: TP1: $2.6923 TP2: $2.6500 🛑 Stop Loss (SL): $2.7100 (above the current support) ⚠️ Confirmation: Watch for a strong bearish candle close below 2.7000, a decline in volume, RSI(6) dropping below 40, and the MACD showing a bearish trend with DIF falling below DEA.
📌 Suggestion to Open Positions Today: The current price action indicates a bearish trend with declining volume and a negative MACD. A drop below $2.7000 could target $2.6923, while a recovery above $2.9686 may lead to a rise toward $2.9923. Given the bearish momentum, consider entering a short position with confirmation signals and use appropriate stop losses due to potential volatility.
