๐ $SUI Technical Analysis May 23, 2025: PRICE TESTING SUPPORT NEAR $3.6589, SHOWING POTENTIAL REVERSAL AFTER A BIG DROP ๐ฅ
๐ Market Insight
โข Current Price: 3.8865 USDT
โข Moving Averages (MAs) show mixed signals, indicating a recent pullback from higher levels.
โข Volume is significant, with 24h volume at 182.81M SUI and 719.16M USDT, reflecting active market participation.
โข MACD is nearly neutral, with a slight positive value of 0.0013, suggesting a potential consolidation or reversal.
โข RSI values are in neutral territory.
๐ Important Levels to Watch
๐ผ Resistance Levels:
4.2000
4.2271
๐ฝ Support Levels:
3.6589
3.6318
3.5302
๐ก TRADE PLANS:
๐ Bullish Trade Setup: Breakout above $4.2000
โ๏ธ Entry Point: $4.2050 (enter if price breaks above 4.2000 with bullish momentum confirmation)
๐ฏ Price Target:
TP1: $4.2271
๐ Stop Loss: $4.0500 (below the recent high to manage risk)
โ ๏ธ Confirmation: Look for a strong bullish candle close above 4.2000, a spike in volume, RSI(6) rising above 70, and a MACD bullish crossover with the DIF (-0.0190) moving above the DEA (-0.0203).
๐ป Bearish Trade Setup: Breakdown below $3.6589
โ๏ธ Entry Point: $3.6500 (enter if price breaks below 3.6589 with bearish momentum confirmation)
๐ฏ Price Target:
TP1: $3.6318
TP2: $3.5302
๐ Stop Loss (SL): $3.7500 (above the support level)
โ ๏ธ Confirmation: Watch for a strong bearish candle close below 3.6589, a drop in volume, RSI(6) falling below 30, and the MACD deepening its bearish trend with the DIF dropping further below the DEA.
๐ Suggestion to Open Positions Today:
The neutral MACD and RSI suggest a potential consolidation phase, with the possibility of a reversal if support holds. Traders should wait for a clear breakout above $4.2000 for a bullish setup or a breakdown below $3.6589 for a bearish move. Given the current volume and mixed indicators, tight risk management is crucial due to potential volatility in the SUI/USDT pair.
#sui #dailyearnings #signaladvisor #SUI๐ฅ
