$SUI /USDT Short Trade Plan and Analysis
*Current Market Situation*
$SUI/USDT current price is 2.3341, with a 24-hour high of 2.4219. The cryptocurrency has experienced a 3.59% increase in the last 24 hours, as indicated by the Ampleforth (AMPL) rebase percentage.
*Technical Analysis*
- *Time Frame:* 4 hours
- *Market Trend:* Bearish
- *Key Levels:*
- *Resistance:* 2.4219 (24-hour high), 2.5000, 2.6000
- *Support:* 2.2000, 2.1000, 2.0000
- *Indicators:*
- *RSI (14):* 63.21, indicating neutral/bullish momentum, but potentially overbought [6]
- *MACD:* -0.005, indicating a potential sell signal [6]
- *Moving Averages:* 50MA = 2.243, 200MA = 2.101, indicating a potential bearish crossover
*Trade Plan*
- *Short Entry Zone:* 2.3341 - 2.4219 (Sell on Strength)
- *Targets:*
- *Short Target 1:* 2.2000
- *Short Target 2:* 2.1000
- *Stop Loss:* 2.5000
*Risk Management*
- *Stop-Loss:* Stick to your stop-loss and avoid over-leveraging.
- *Risk-Reward Ratio:* Aim for a risk-reward ratio of 1:2 or higher to ensure potential profits outweigh potential losses.
*Trade Plan Scenarios*
- *Bearish Scenario:* $SUI/USDT breaks below 2.0000, targeting 1.8000 and lower.
- *Bullish Scenario:* $SUI/USDT breaks above 2.6000, targeting 2.8000 and higher.
*Trade Plan Exit Strategies*
- *Take Profit:* Exit the trade when Target 2 is reached.
- *Stop Loss:* Exit the trade if the price breaks above the stop-loss level.
- *Trailing Stop:* Consider setting a trailing stop to lock in profits as the trade moves in your favor.
Click here $SUI or click on the chart to start trade
*Pro Tips*
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- Keep an eye on market sentiment and adjust your trade plan accordingly.
- Set a trailing stop to lock in profits and minimize potential losses.
- Consider scaling out of the trade as targets are reached to secure profits.
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