🚀 $SUI Technical Analysis July 02, 2025: PRICE STANDS AT $2.6802 WITH BEARISH MOMENTUM 📉
📊 Market Insight • Current Price: 2.6802 USDT • Moving Averages (MAs) indicate a bearish trend. • Volume has decreased, suggesting reduced market activity and potential waning buying pressure. • MACD shows a bearish trend. • RSI values are in the neutral territory.
📊 Important Levels to Watch 🔼 Resistance Levels: 2.7356 2.8365 2.9374 🔽 Support Levels: 2.6485 2.6447 2.6236
💡 TRADE PLANS: 🐂 Bullish Trade Setup: Reversal above $2.7356 ☑️ Entry Point: $2.7400 (enter if price breaks above 2.7356 with bullish momentum confirmation) 🎯 Price Target: TP1: $2.8365 TP2: $2.9374 🛑 Stop Loss: $2.7300 (below the resistance to manage risk) ⚠️ Confirmation: Look for a strong bullish candle close above 2.7356, an increase in volume, RSI(6) rising above 50, and MACD showing a bullish crossover with DIF rising above DEA.
🐻 Bearish Trade Setup: Breakdown below $2.6485 ☑️ Entry Point: $2.6450 (enter if price drops below 2.6485 with bearish momentum confirmation) 🎯 Price Target: TP1: $2.6447 TP2: $2.6236 🛑 Stop Loss (SL): $2.6520 (above the current support) ⚠️ Confirmation: Watch for a strong bearish candle close below 2.6485, a decline in volume, RSI(6) dropping below 40, and the MACD showing a bearish trend with DIF falling below DEA.
📌 Suggestion to Open Positions Today: The recent price drop, coupled with a bearish MA alignment and declining volume, suggests a continuation of downward momentum. The neutral-to-oversold RSI and a nearly flat MACD indicate a potential stabilization or minor reversal if buying pressure returns. A breakdown below $2.6485 could target $2.6447 or lower, while a reversal above $2.7356 might signal a recovery toward $2.8365. Given the current bearish trend and oversold RSI, a cautious bearish approach is favored, but watch for signs of a bullish reversal. Wait for confirmation signals before entering trades, and use tight stop losses.
