Overview:
Current price: between $3.98 and $4.00 (down ~5% over 24 hours) after a rebound from $4.44 to $4.04
Daily Range: $3.42 – $3.63 (medium volatility)
General Trend: Ascending channel in the short and medium term, with bullish signals conditional on the main support holding
Daily Timeframe:
Price Status: Price above the 50-day simple moving average, with a double bottom pattern suggesting potential continuation if $4.00 is broken
Support: $3.64 (strong), $3.14 (secondary), $2.30 (long-term)
Resistance: $4.00 (psychological and technical barrier), $4.68 (previous peak), $5.40–5.50 (potential target)
Technical Indicators:
RSI at 50–55 (Neutral momentum with upward bias)
Price above MA50 with potential bullish crossover with MA200
Bollinger Bands: Price near the middle band, breaking $4.00 confirms momentum
Forecast: Holding above $3.64 supports targeting $4.00 then $4.68, breaking $3.14 may drop the price towards $2.30
Weekly Timeframe:
Price Status: Long-term upward trend supported by market confidence in Sui and DeFi projects
Support: $3.14 (strong weekly), $2.30 (long-term)
Resistance: $4.68 (main), $5.40–5.50 (potential target)
Technical Indicators:
RSI at 60 (Moderate upward momentum)
MACD: Strong bullish crossover with positive histogram
Bollinger Bands: Near the upper band, a breakout at $4.80 confirms a target of $5.40
Forecast: Probability of testing $4.68 in the coming weeks if no negative news appears
Summary and Recommendations:
Daily: Strong buy signal as long as above $3.64, target $4.00 then $4.68
Four Hours: Fluctuating between $3.64 and $4.00, watch for the breakout to confirm the trend
Weekly: Long-term upward trend with a target of $5.40–5.50
Risks: Breaking $3.14 could open a drop towards $2.30, use a stop loss at $3.14
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