SUI/USDT (Daily Chart)
🧠 Technical Analysis
📊 1. Overview
Current Price: $2.6094
Daily Change: -5.21%
24h High: $2.8062
24h Low: $2.5968
24h Volume: 51.02M SUI (notable)
📉 2. Candles & Price Action
There’s a clear downtrend on the daily chart, with consecutive lower highs and lower lows.
There was an attempt to bounce off the $2.29 support, but the move was rejected near the EMA(25).
The price is currently below all three EMAs (7, 25, and 99), which confirms bearish pressure in the market.
🟡 3. Indicators
EMA(7): 2.7164
EMA(25): 2.9678
EMA(99): 3.1261
→ All above the current price, signaling a bearish continuation.
RSI(6): 35.95
→ Approaching the oversold zone (30), which may signal a potential short-term bounce or relief rally.
Volume: Still relatively low and inconsistent — no strong signs of reversal yet.
🧠 Market Sentiment Insight
😰 The prevailing sentiment is caution and fear.
📉 Many holders are taking losses or waiting for a more solid bottom.
🫣 Buyers tried to fight back but were easily rejected, showing weakness on the bullish side for now.
🎯 Possible Scenarios
🔼 Bullish (less likely at the moment):
A stronger reversal might only gain traction if the price breaks above the EMA(25) at $2.96 with volume.
If that happens, targets could be $3.12 (EMA99) and then $3.45.
🔽 Bearish (more likely short-term):
Losing the $2.59 support could lead the price back to retest the $2.29 bottom.
Below that, watch for $2.10 and potentially $1.98.
✅ Trader Tips
Be careful with fake reversals: the recent green candle looked promising but was rejected at the short-term EMA.
If you're not in, wait for confirmation above key EMAs with volume.
If you're already in, watch $2.59 support closely — losing it could lead to steeper drops.
💬 And on the emotional side...
Are you holding SUI? In a loss and unsure whether to hold or cut?
Let’s talk about it and bring clarity to your next move. 🧘♂️
$SUI #Write2Earn #CryptoContent #SUIUSDT #BuyTheDip