Market Analysis & Trading Signal for SUI/USDT
Market Movement Analysis:
Recent Trend:
The SUI/USDT pair was in a downtrend, reaching a low of 2.5105 USDT.
A strong bullish reversal followed, pushing the price up towards 2.9000 USDT.
The price is currently consolidating near 2.8763 USDT, showing signs of potential further movement.
Parabolic SAR (PSAR) Indicator:
Previously, PSAR dots were above the price, confirming bearish momentum.
Now, the PSAR dots have shifted below the price, indicating a bullish trend continuation.
The support level from PSAR is at 2.8378 USDT, which is key to maintaining bullish momentum.
Support and Resistance Levels:
Support: 2.8378 USDT (PSAR Support)
Resistance: 3.0538 USDT (Recent High)
Price Action:
The market shows strong buying pressure, but a slight pullback is forming.
If the price stays above 2.8500 USDT, the uptrend could continue.
A break below 2.8378 USDT may trigger another correction before resuming the upward move.
Next Price Movement Prediction:
If SUI/USDT holds above 2.8500 USDT, we could see a move towards 3.0000 - 3.1000 USDT.
If price drops below 2.8378 USDT, it may retest 2.7500 USDT before continuing upwards.
Trading Signal:
Buy Signal (Long Position)
Entry Price: 2.8500 - 2.8800 USDT (Buy Zone)
Target 1: 3.0000 USDT (Short-Term Target)
Target 2: 3.1000 USDT (Breakout Target)
Stop-Loss: 2.8300 USDT (Below Key Support)
Sell Signal (Short Position)
Entry Price: Below 2.8378 USDT
Target 1: 2.7500 USDT
Target 2: 2.6500 USDT
Stop-Loss: 2.8800 USDT
Conclusion:
Bullish momentum is strong, with potential upside towards 3.1000 USDT.
A long trade above 2.8500 USDT offers a good risk-reward ratio.
A short trade below 2.8378 USDT is viable if the market corrects.
Risk Management: Always use a stop-loss to secure profits and minimize risks. 📈🚀
