Great! Let’s break down the chart of SUI/USDT from Binance and analyze it step by step for patterns, indicators, and potential strategies to make profit.
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1. Current Overview
Current Price: $3.6701
24h Change: +10.62% (strong bullish move)
Recent High: $3.7397
Volume: Rising with green candles (bullish confirmation)
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2. Trend Analysis
Uptrend: The price is moving above the 7 EMA, 21 EMA, and 50 EMA, which confirms a strong uptrend.
Higher Highs and Higher Lows: Classic uptrend structure.
Breakout: Price broke through a major resistance zone (~$2.95 - $3.35) and is sustaining above it.
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3. Chart Patterns
Bullish Continuation Pattern: Looks like a breakout from a flag or channel, followed by strong bullish candles.
No immediate reversal pattern is visible yet, but we should watch for:
Double top near $3.74
Bearish engulfing candles on smaller timeframes for early signs of reversal
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4. Key Indicators
Moving Averages (EMA)
7 EMA (purple) is far above the 21 EMA and 50 EMA – strong bullish momentum.
EMAs acting as dynamic support: You can look to buy near these lines on dips.
MACD
Bullish: MACD line is above signal line and histogram is positive.
Momentum is strong but nearing overbought territory.
RSI
RSI(6): 93.54 (extremely overbought)
RSI(14): 78.43, RSI(60): 71.97 – also overbought
Caution: While this confirms strength, it also signals a potential short-term pullback.
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5. Volume
Rising volume supports the uptrend.
Watch for volume divergence (price rising, volume falling) as a sign of trend weakening.
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6. Support and Resistance Levels
Immediate Resistance: $3.74 (recent high), then $3.82
Immediate Support: $3.35 (previous resistance turned support), then $3.00
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7. Strategy to Make Profit
A. Short-Term (Scalping/Day Trading)
Buy on Dip: Around $3.35 - $3.45 with tight stop-loss below $3.30
Sell Target: Near $3.74 or $3.82
Stop Loss: Below $3.30
B. Swing Trading
Wait for Pullback to 21 EMA or $3.00 zone
Entry: After confirmation with bullish candlestick
Target: $3.90 - $4.20
Stop Loss: Below $2.95
C. Risk Management
Never risk more than 1-2% of your capital per trade
Use trailing stop-loss to lock in profits as price moves up
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8. Caution
RSI is extremely high – possible short-term correction.
Set alerts near key levels, avoid chasing pumps.
Always confirm signals on multiple timeframes (15m, 1h, 4h, 1D).
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If you want, I can also guide you on:
Entry/exit signals using indicators like Bollinger Bands, Fibonacci, etc.
How to automate trades with alerts or
bots
How to read multi-timeframe setups
Would you like a more advanced strategy, or analysis on a different timeframe (like 4H or daily)?