$SUI
1. Trend & Structure
Price Action: SUI/USDT is trading at $3.01, showing a 0.23% increase from the previous close. The intraday high and low are $3.06 and $2.45, respectively.
Market Structure: The pair has broken out from a consolidation phase near $2.50, indicating a strong bullish trend. The price is forming higher lows, suggesting sustained upward momentum.
2. Key Levels
Resistance Levels:
$2.83: Immediate resistance post-breakout.
$3.00: Psychological resistance level.
Support Levels:
$2.65: Recent breakout zone, now acting as support.
$2.50: Previous consolidation area, providing a strong support base.
3. Momentum Indicators
RSI (14, 1-hour): Approximately 73, indicating overbought conditions. A minor pullback might occur before the next upward move.
MACD (1-hour): The MACD line is above the signal line, but the histogram is flattening, suggesting bullish momentum is present but may be slowing down.
Volume: There was a significant volume spike during the breakout above $2.50, which has since tapered off, indicating healthy consolidation.
Analyst Outlook:
Bullish Scenario: A breakout above $2.83 could target the $3.00–$3.20 range.
Bearish Scenario: Failure to hold above $2.65 may lead to a pullback towards $2.50.
5. Trade Setups
Breakout Long:
Entry: 1-hour close above $2.83 with increased volume.
Stop Loss: $2.65.
Targets: $3.00 → $3.20.
Pullback Long:
Entry: Between $2.65–$2.70 (support zone).
Stop Loss: $2.60.
Targets: $2.83 → $3.00.
Bearish Reversal:
Entry: Close below $2.65 with strong selling volume.
Stop Loss: $2.70.
Targets: $2.50 → $2.35.
Bottom Line
SUI/USDT is exhibiting strong bullish momentum above $2.65. A confirmed breakout above $2.83 could lead to further gains towards $3.20. However, traders should monitor for potential pullbacks, especially if the price fails to sustain above key support levels.
Trade here $SUI