š $SUI
SUI/USDT Technical Analysis šÆ
Current Price: $4.605 (+2.61%)
Exchange: Binance
Timeframe: 30m Chart
SUI is currently showing bullish momentum as it holds above key support levels. With increased trading volume and a breakout above resistance, the price could move towards significant targets. Here's a detailed analysis:
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Key Levels to Watch
1ļøā£ Support: $4.46
This level has acted as a strong base over the past 24 hours. A breakdown could lead to a retest of $4.30.
2ļøā£ Resistance: $4.80
Price has tested this level but failed to break above. A clear move past this resistance could signal further upside.
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Potential Targets
šÆ Target 1: $4.90
First target aligns with short-term resistance, with potential to consolidate if volume remains consistent.
šÆ Target 2: $5.10
Psychological resistance level. If the momentum remains bullish, SUI could push through this zone.
šÆ Target 3: $5.50
Long-term target based on Fibonacci extension levels, provided the broader market supports an uptrend.
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Indicators Overview
RSI: Trending near 65, indicating bullish momentum but nearing overbought territory.
MACD: Positive crossover suggests continued upward movement.
Volume: Increasing 24h trading volume hints at strong trader interest.
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Trading Strategy:
Enter above $4.70 after confirming the breakout.
Use $4.46 as a stop-loss to limit downside risks.
Watch for volume spikes to confirm moves toward the targets.
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