SUI price approaches support! Bulls are gearing up, seizing the opportunity for a short-term rebound?
Current SUI price 2.8302, below MA200 (-8.36% deviation) but the Bollinger Band position at 62.96% indicates short-term strength, trading volume shrinking (ratio 0.83) suggests market cautiousness. It is recommended to buy on dips near the support level of 2.70, target resistance at 2.85, stop loss at 2.60, risk-reward ratio 2.0. Risk: Long-term downtrend (7-day -16.6%) and insufficient trading volume may exacerbate volatility; if it breaks below 2.60, stop loss is necessary.
Technical Analysis:
1. Price Status: The Bollinger Band position at 62.96% indicates the price is close to the upper band (2.908), short-term is strong; MA200 deviation -8.36% and holding cost deviation -6.73% reflect being below long-term costs, under obvious pressure.
2. Market Strength: 24-hour trading volume ratio 0.83 (below 1) shows low activity, insufficient inflow of main capital; order book buy-sell ratio 1.073 (buying pressure), near-end buy orders valued at 1.09 million USDT oversold (808,000), buyer liquidity clusters at 2.70-2.53 (e.g., 2.70 has 317,000 USDT support), seller resistance at 2.8514-2.97 (e.g., 2.8514 has 209,000 USDT).
3. Key Support/Resistance: Support level 2.70 (buyer liquidity area), 2.68; resistance level 2.8514 (seller liquidity area), 2.97; liquidity gap below 2.60 may trigger accelerated decline.
Market Cycle Analysis:
Currently in the mid-bear market consolidation phase, price below MA200 and 7-day decline -16.63%, but Bollinger Band high and RSI 63.93 neutral not overbought, suggesting a possible short-term rebound.
Trading Strategy:
• Entry Point: 2.70 (aggressive can enter at current price 2.83 with light position, conservative wait for 2.70 support confirmation).
• Stop Loss Point: 2.60 (below key liquidity area).
• Target Level: 2.85 (first resistance) or 2.97 (second resistance).
• Risk-Reward Ratio: 2.0 (based on Long formula: (2.85-2.70)/(2.70-2.60)=0.15/0.1).
Risk Warning:
• Market Risk: Shrinking trading volume exacerbates price volatility, long-term bearish trend (30-day -26.25%) and low funding rate (0.00008864) suggest insufficient bullish momentum.
• Strategy Failure: If the price falls below 2.60 support or macro events (such as regulatory news) trigger a sharp drop, immediate stop loss is required.
• Operational Note: Single position risk ≤ total capital 2%, avoid trading during low liquidity periods such as Asian early sessions.
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