#CryptoTrading. #Signalš„.
šTechnical Analysis (1 hour) $SUI /USDT
1. Price and Trend:
ā¢ Current price: 4.0411 USDT with an increase of +4.88%.
ā¢ The chart shows an uptrend with a peak around 4.1524, after which a corrective decline began. The price is currently below the recent high, but above the key support level around 3.4222.
2. Moving Averages (MA):
ā¢ MA(5) and MA(10) show an uptrend in the short term, but MA(10) is closer to the price, which may indicate a possible consolidation or weakening of the momentum.
3. Bollinger Bands (BB):
ā¢ The price is approaching the upper border of BB (4.0471), which may signal overbought or a possible reversal.
4. MACD:
ā¢ MACD shows a positive value (0.0063), but the difference between the DIF and DEA lines is decreasing, which may indicate a weakening momentum or an upcoming reversal.
5. RSI (Stochastic RSI):
ā¢ RSI is at 35.7284, which is in the neutral zone, but is approaching the oversold state. This may indicate a possible accumulation before a new move.
6. Volume:
ā¢ Volume is increasing, which supports the upward movement, but the latest candles show a decrease in activity, which may be a warning of a correction.
7. Support and resistance:
š“ Support: 3.4222 (former local maximum).
š¢ Resistance: 4.1524 (recent peak).
ā ļøConclusion: The market is currently showing an upward trend with signs of a possible weakening momentum. It is recommended to watch the level of 4.0471 (upper BB) and the support of 3.4222. If the price breaks the resistance with increasing volumes, the trend may continue; in case of a drop below the support, a corrective decline is possible.