SUI
The price is moving in a descending channel on the 1-hour timeframe and is expected to break out and continue upwards.
We have a trend to stabilize above the 100-period moving average again.
We have a downtrend on the RSI indicator, which supports an upward move if it breaks above it.
We have a key support zone in green that pushed the price higher at 1.292.
Entry price: 1.325
First target: 1.372
Second target: 1.427
Third target: 1.497
For risk management, don't forget your stop-loss and money management.
The stop-loss is below the support zone in green.
Upon reaching the first target, take some profit and then change your stop-loss order to an entry order.
For any questions, please comment.
Thank you.
SUIUSDT
Perp
1.3887
+2.76%
