SUI market analysis today:

1. K-line pattern: SUI is currently fluctuating around 1.7337 USDT, showing a trend of consolidation in the near future.

The support level is around 1.70 USDT, while the resistance level is 1.75 USDT. The price has tested the resistance several times but failed to break through, indicating that there is strong selling pressure in the market in this area.

If the price breaks through 1.75 USDT, it may further challenge 1.80 USDT;

If it fails to break through, the price may fall back to around 1.70 USDT.

2. Technical indicators:

MACD: The fast line and the slow line are close to intersecting, indicating that the market is in a wait-and-see state and the momentum is weak.

If the fast line crosses the slow line, there may be a short-term rebound; if it crosses below, it may increase the pressure of the callback.

RSI: RSI is currently around 55, which is in the neutral area. The market sentiment is relatively balanced and has not yet entered the overbought or oversold state.

If RSI breaks through 70, there may be a callback after overbought.

EMA: The short-term EMA7 (1.72 USDT) is slightly higher than the EMA30 (1.71 USDT), indicating that the price still has some room to rise in the short term, but the EMA120 (1.75 USDT) has formed a strong resistance level, and the price needs to break through this area to confirm the further upward trend.

3. Volume:

The volume has decreased recently, indicating that the market sentiment is more cautious and may remain volatile in the short term. If the volume increases and the price breaks through 1.75 USDT, it may push the price up further.

Operational suggestions: Long strategy: If the price pulls back to around 1.72 USDT, you can consider going long, with the target profit target set at the 1.75 USDT resistance range and the stop loss set below 1.70 USDT. 👗👉➩BNB0098

Short strategy: If the price fails to break through 1.75 USDT, you can go short in this area, with the target profit target set at the 1.70 USDT support level and the stop loss set above 1.77 USDT.

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