Technical analysis of SUI against USDT. Here are the main points:
Overall Trend: The currency has witnessed a notable upward trend, rising from a level of approximately 3.3272 to a peak exceeding 4.0000.
* Recently, a downward correction occurred, where the price dropped from the peak to a level of 3.8069 at the time of the snapshot.
Price Levels:
* Support: The level of 3.3272 appears as strong support for the currency at the beginning of the chart. The levels that can be monitored now are previous bounce areas, such as the zone of 3.70 - 3.75.
* Resistance: The level of 4.0000 represents strong resistance, as the currency failed to break it and retreated after reaching it.
Technical Indicators:
* Relative Strength Index (RSI): The indicator shows a value of 39.7647. This means the currency is neither in the overbought nor oversold territory. The current value indicates room for movement in both directions.
* Average Volume (VOL): The chart shows trading volume (VOL) high during the upward period, confirming the strength of the upward trend.
Analysis Summary:
* The currency is in a correction phase after a strong rise.
* The level of 4.0000 represents a major resistance that must be broken to continue rising.
* Previous high levels can act as support areas in case of a continued decline.
* The RSI indicator does not currently give a clear signal to sell or buy, but it may indicate that the current correction could last for a while.
Important note: Always consider the fundamental news of the currency and the general market movements before making any investment decisions.
