🚀 $SUI Technical Analysis May 18, 2025: BEARS IN CONTROL, PRICE NEAR CRITICAL SUPPORT AT $3.74-$3.63 ZONE ⚠️
📊 Market Insight
• Current Price: 3.7490 USDT
• Moving Averages (MAs) are indicating a bearish trend
• Volume is relatively high at 36.47M SUI over 24 hours, with a USD value of 138.17M, suggesting strong selling pressure with limited buying interest.
• MACD is bearish, confirming sustained downward momentum.
• RSI values are approaching oversold territory, indicating potential for a reversal if oversold conditions deepen.
📊 Important Levels to Watch
🔼 Resistance Levels:
3.8797
4.0382
4.1900
🔽 Support Levels:
3.6358
3.6166
3.5000
💡 TRADE PLANS:
🐂 Bullish Trade Setup: Reversal above $3.8797
☑️ Entry Point: $3.8850 (enter if price breaks above 3.8797 with bullish momentum confirmation)
🎯 Price Target:
TP1: $4.0382
TP2: $4.1900
🛑 Stop Loss: $3.7749 (below the MA(7) to manage risk)
⚠️ Confirmation: Look for a strong bullish candle close above 3.8797, a spike in volume, RSI(6) rising above 70, and a MACD bullish crossover with the DIF moving above the DEA.
🐻 Bearish Trade Setup: Continuation below $3.6358
☑️ Entry Point: $3.6300 (enter if price breaks below 3.6358 with increased volume and bearish confirmation)
🎯 Price Target:
TP1: $3.6166
TP2: $3.5000
🛑 Stop Loss (SL): $3.8797 (above the immediate resistance)
⚠️ Confirmation: Watch for a bearish candle pattern (e.g., bearish engulfing), RSI(6) dropping below 30, and the MACD maintaining its bearish trend with the DIF staying below the DEA.
📌 Suggestion to Open Positions Today:
The price is testing a critical support zone around $3.74-$3.63, with a recent low at 3.6358. Consider waiting for a clear break below $3.6358 with bearish confirmation for a short position, or look for a strong reversal above $3.8797 for a long position.
Given the current bearish momentum and proximity to support, exercise caution with tight risk management.
