Here's a technical analysis of the $SUI/USDT perpetual 5-minute chart:
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Current Overview
Last Price: 3.7690 USDT
24h Change: ▼ -2.10%
24h High / Low: 4.017 / 3.652
Fair Price: 3.7682
Volume: 560.281M SUI | 2.128B USDT
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Technical Indicators
Moving Averages (MA):
MA5: 3.7783
MA10: 3.7810
MA30: 3.7842
MA60: 3.7765
➡️ Shorter-term MAs (5, 10, 30) are all above current price, indicating slight short-term bearish pressure.
RSI (Relative Strength Index):
RSI6: 29.38 (Oversold)
RSI12: 40.25 (Neutral to slightly bearish)
RSI24: 46.25 (Neutral)
➡️ RSI6 is below 30, which suggests short-term oversold conditions and a possible bounce or reversal soon.
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Chart Pattern Observations
Price Action: The price recently dropped from a local high of 3.8318 to 3.7369, and is now struggling to hold above 3.7690.
Support Levels:
3.7369 (Recent low)
3.7500 (Psychological round level)
Resistance Levels:
3.7842 (MA30)
3.8318 (Recent top)
Volume: Stable but not surging, indicating lack of strong momentum in either direction currently.
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Conclusion & Next Move
The chart is short-term bearish, but oversold RSI and a recent bounce from 3.7369 could mean a possible minor recovery.
If 3.7500 holds as support, expect a possible test of 3.7840–3.7900.
If it breaks below 3.7369, price may head toward the 3.7000–3.6500 zone again.
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✅ Bullish Signals:
RSI near oversold
Support at 3.7369 held recently
❌ Bearish Signals:
Price below short-term MAs
Lower highs forming
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L$et me know if you'd like a trade setup (entry, SL, TP) or analysis on a higher time frame (15m, 1h, etc).
