🚀 $SUI Technical Analysis May 19, 2025: BEARS STILL IN CONTROL, PRICE HOVERS NEAR SUPPORT AT $3.6720 ZONE ⚠️
📊 Market Insight
• Current Price: 3.7950 USDT
• Moving Averages (MAs) are showing a bearish trend: MA(7) at 3.8298 and MA(25) at 3.8407 are above the current price, while MA(99) at 3.8259 indicates a longer-term consolidation near current levels.
• Volume is moderate, suggesting steady selling pressure with limited buying interest.
• MACD is slightly bearish, indicating a potential weakening of downward momentum.
• RSI values are in neutral territory, suggesting the price is approaching oversold conditions that could trigger a bounce if buying interest emerges.
📊 Important Levels to Watch
🔼 Resistance Levels:
3.8996
4.0218
4.0051
🔽 Support Levels:
3.6720
3.6553
3.5000
💡 TRADE PLANS:
🐂 Bullish Trade Setup: Reversal above $3.8996
☑️ Entry Point: $3.9100 (enter if price breaks above 3.8996 with bullish momentum confirmation)
🎯 Price Target:
TP1: $4.0218
TP2: $4.0051
🛑 Stop Loss: $3.8298 (below the MA(7) to manage risk)
⚠️ Confirmation: Look for a strong bullish candle close above 3.8996, 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 $3.6720
☑️ Entry Point: $3.6600 (enter if price breaks below 3.6720 with increased volume and bearish confirmation)
🎯 Price Target:
TP1: $3.6553
TP2: $3.5000
🛑 Stop Loss (SL): $3.7950 (above the current price level)
⚠️ 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 bearish trend is evident with the price below key moving averages, though the MACD suggests a potential slowdown in momentum. Given the neutral RSI and proximity to support, a bounce is possible, so tight risk management is advised.
