SUI market analysis:
1. K-line pattern:
The current price of SUI is 1.7406 USDT, and it has been fluctuating upward in the past few hours. The support level is around 1.72 USDT, while the upper resistance level is around 1.75 USDT. The price has tested the resistance of 1.75 USDT many times, but has not yet successfully broken through.
In the short term, if the price can break through 1.75 USDT, it may rise further to 1.78 USDT or even higher; if it cannot break through this resistance level, the price may pull back to the 1.72 USDT support area.
2. Technical indicators:
MACD: The MACD fast line is above the slow line, indicating that the current market is bullish and the momentum still exists. If the fast and slow lines continue to diverge, the price is expected to continue to rise.
RSI: RSI is currently around 60, which is in a neutral to strong area, indicating that the market sentiment is bullish, but it has not yet entered the overbought area, and there is still room for growth in the short term.
EMA: EMA7 (1.738 USDT) is higher than EMA30 (1.73 USDT), indicating that the short-term trend is still bullish. EMA120 forms a strong resistance at 1.75 USDT, and it is necessary to focus on the performance of the price in this area.
3. Volume:
The volume has increased slightly during the rise, but it has not yet increased significantly. If the volume continues to increase, the price is expected to break through the resistance level of 1.75 USDT; otherwise, the price may encounter resistance and pullback in this area.
Operational suggestions:
Long strategy: You can consider entering the market to go long when the price pulls back to around 1.73 USDT, with the target take profit set at 1.75 USDT and the stop loss set below 1.72 USDT to prevent further price pullbacks.
Short strategy: If the price fails to break through 1.75 USDT, you can short in this area, with the target take profit set at the support level of 1.72 USDT and the stop loss set above 1.76 USDT.
