Technical Analysis of SUI/USDT (Daily Chart)
1. Price Action & Key Levels:**
- **Current Price:** $3.92 (-0.68% decline).
- **24h Range:** $3.81272 (Low) to $4.09786 (High).
- **Mark Price:** $3.92180 (aligned with current price).
- **Key Resistance:** Near $4.09786 (24h High).
- **Key Support:** Near $3.81272 (24h Low).
#### **2. Moving Averages (Trend Analysis):**
- **MA(50):** $2.67332 (price is well above, indicating a strong bullish trend in the medium term).
- **EMA:** $4.53297 (potential dynamic resistance if price retraces higher).
- **Price is below the EMA**, suggesting short-term bearish pressure.
#### **3. Indicators:**
- **MACD:** 1.29588 (positive but declining, potential loss of bullish momentum).
- **RSI:** Not explicitly shown, but the recent drop suggests neutrality or slight bearishness (watch for oversold/overbought signals).
- **Bollinger Bands (BOLL):** Mid-band at $3.92061 (price near mid-band, indicating neutral volatility).
- **SAR:** $3.93367 (above price, suggesting a downtrend).
#### **4. Volume:**
- **24h Volume (USDC):** $227.40M (healthy liquidity).
- **Declining price + high volume:** Suggests selling pressure.
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### **Intraday Trading Signal (5m-1h Timeframe)**
**Scenario:** Price is testing the mid-Bollinger Band after a drop, with bearish short-term signals (SAR, EMA resistance).
#### **1. Short Trade (Bearish Intraday):**
- **Entry:** $3.92 (current price) or lower high near $3.93 (SAR level).
- **Stop-Loss:** $4.00 (above 24h High and psychological resistance).
- **Take-Profit Targets:**
- **TP1:** $3.85 (minor support).
- **TP2:** $3.81272 (24h Low, strong support).
- **Risk-Reward Ratio:** ~1:2 (SL $0.08, TP $0.11).
#### **2. Long Trade (If Support Holds):**
- **Entry:** Bounce from $3.81272 (24h Low) with RSI >30.
- **Stop-Loss:** $3.78 (below 24h Low).
- **Take-Profit:** $3.95 (near EMA) or $4.00 (psychological level).
#### **Confirmation Tips:**
- Wait for 5m/15m candle close below $3.92 for short.
- For longs, watch for bullish reversal patterns (hammer, engulfing) at $3.81.
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### **Summary:**
- **Preferred Bias:** Short below $3.93, targeting $3.81.
- **Alternative:** Long only if $3.81 holds with volume.
- **Caution:** Monitor MACD/RSI for divergence and USDC volume spikes.