๐ SUI Market Analysis โ Hanging Man at Resistance! โ ๏ธ
๐น SUI/USDT Price: $2.4700
๐ Resistance Level: $2.4778
๐ก Support Level: $2.3967
โ ๏ธ Market Signal: Hanging Man at Resistance โ Possible Reversal?
SUI is currently trading near its resistance level at $2.4778, forming a Hanging Man candlestick, which is typically a bearish reversal signal at the top of an uptrend. If selling pressure increases, SUI may pull back toward its support level at $2.3967.
๐ Technical Outlook:
โ If SUI breaks above $2.4778, it could extend the uptrend.
โ The Hanging Man suggests that bulls are losing strength, and a drop toward $2.3967 is possible.
โ Traders should watch for confirmationโif the next candle is bearish, a pullback is likely.
๐ Trading Strategy:
๐ธ Bearish Scenario: A rejection from $2.4778 may push SUI toward $2.3967 support.
๐ธ Bullish Potential: If SUI breaks above $2.4778, momentum could continue upward.
๐ธ Watchlist: Monitor volume and price action to confirm the next move.
๐ข SUI is at a decision pointโbreakout or reversal? Stay alert!
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