SUI I opened a long position, my opening price is 1.605. After this wave of decline on the daily chart, it did not continue to crash, and for the past two weeks, it has been oscillating between 1.55 and 1.70, indicating that the market is 'shifting hands and building a bottom' here. The 4-hour chart currently shows moving averages entangled + volatility convergence, a typical 'waiting for a big move' stage—there has been no clear direction in the past two days, but tonight the 1-hour cycle suddenly surged with increased volume, and the price of the 1-hour cycle has also risen above the 120-day market cost price, betting on a long position. The stop loss for long positions at this level is smaller, and support is stronger.
Next, focus on two things:
1) For bulls to gain strength, the 4-hour chart must stabilize at 1.65-1.67; only then will I consider it a trend position.
2) If it falls back and breaks below 1.59, this position needs to be approached with caution; if it truly breaks below 1.55, it indicates that the box has broken, and the logic for the long position is invalid.
⚠️ The SOL long position opened yesterday oscillated without direction for a day and was already closed at the opening price today.
SUIUSDT
Perp
1.4664
-6.68%
