Is SUI consolidating after a surge?
SUI has recently seen a strong breakout, reaching a high of 2.92, currently falling back to around 2.75. The bullish sentiment remains dominant in the short term, but there are signs of capital outflow, and the market may be due for a correction. This article will conduct a detailed analysis combining daily, four-hour, and one-hour candlestick charts, and formulate precise short-selling strategies.
1. Daily level: Strong breakout, but clear pressure above.
Key data:
Yesterday's highest price: 2.82
Yesterday's lowest price: 2.51
Current price: 2.75
Support and resistance:
First support level: 2.65 (previous high support)
Second support level: 2.50 (trend pullback support)
First resistance level: 2.85 (yesterday's high pressure)
Second resistance level: 3.00 (psychological round number)
Technical analysis:
Moving average system: MA7 and MA30 golden cross upward, the trend is still bullish, but the short-term divergence is too large, indicating a need for adjustment.
KDJ overbought divergence: The indicator is at a high level, and a short-term pullback correction may occur.
Volume contraction: Yesterday's volume surged; if today's volume is insufficient, a pullback correction may occur.
Daily conclusion: The trend remains bullish, but there is a demand for a pullback. Be cautious in chasing high prices and wait for adjustments to position.
2. Four-hour level: Upward momentum is weakening, adjustment is imminent.
Key data:
MA7 moving average: 2.78 (short-term rebound pressure)
MA30 moving average: 2.49 (short-term trend support)
Bollinger channel: upper band 2.92, middle band 2.75, lower band 2.58
Technical analysis:
After a series of consecutive bullish candlesticks, a long upper shadow appears, indicating the bulls are losing strength and the probability of a short-term adjustment is high.
MACD energy bars are shortening, and the fast and slow lines are about to form a death cross, indicating short-term pullback risk.
Bollinger upper channel is under pressure; if the price cannot sustain above 2.80, it will pull back to around 2.65 to find support.
4. Four-hour conclusion: Short-term pullback demand is increasing. If it breaks below 2.70, it may fall back to the 2.65-2.58 area.
3. One-hour level: Consolidation forming a top, watch for support at 2.70.
Key data:
Short-term support: 2.70
Short-term resistance: 2.80
Technical analysis:
The moving average system is bullish, but the short-term upward momentum is slowing down. If it breaks below 2.70, bears may quickly gain strength.
KDJ death cross has formed, indicating signs of short-term capital outflow.
Short-term key levels:
If it breaks below 2.70, look towards 2.65-2.58.
If it rebounds and does not break 2.80, a light short position can be taken.
One-hour conclusion: Short-term oscillation is bearish; watch whether it breaks below 2.70.
4. Today's precise short-selling strategy for SUI
Strategy one: Short on rebound (conservative type)
Short-selling entry point: 2.78-2.85
Stop-loss level: 3.00
Target levels: First target 2.65, second target 2.58
Strategy two: Chase the short on breakout (aggressive type)
Short-selling entry point: After breaking below 2.70, if it rebounds without breaking 2.72, then enter short.
Stop-loss level: 2.80
Target levels: First target 2.65, second target 2.50
5. Today's market summary
SUI surged yesterday but fell back, short-term bullish sentiment is weakening, and the probability of a correction is high.
Daily and four-hour levels show that the upward momentum is slowing down, and a short-term adjustment may be imminent.
If the price rebounds to the 2.78-2.85 area and meets resistance, consider shorting with a target towards 2.65-2.58.
After breaking below 2.70, short positions can be pursued with a target of 2.65-2.50 and strict stop-loss set at 2.80-3.00.
Overall, SUI may adjust in the short term. It is recommended to short at high prices and wait for pullback opportunities to buy low!
