SUI/USDT Analysis : RSI Divergence Signals Potential Reversal at Key Level
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In the SUI/USDT trade setup, SUI has been attempting to break through a tough resistance level represented by the **upper Bollinger Band**. Hereâs the situation so far:
- Three Failed Attempts : SUI has tried to breach this resistance three times (indicated by red arrows) but fell back each time, indicating weakening upward momentum.
- Two Recent Hits : After two additional attempts, SUI is showing some strength yet appears fatigued, prompting caution as it approaches the resistance again.
- RSI Divergence Warning : While SUI is achieving higher highs, its **Relative Strength Index (RSI)** is decreasing, suggesting it may lack the energy to break through this resistance.
- Critical Level - FIB 2.168 : If SUI falls below this level, it signals that the upward movement may be over, prompting a downward trend.
- Paths Forward :
- If SUI holds above **FIB 2.168**, it may gather momentum to reach **FIB 4.236**, with potential liquidity at 2.189 to aid the climb.
- Conversely, a drop below **FIB 2.168** could lead to a decline towards the **0.8724** level, acting as a safety net.
Conclusion & Advice :
Traders should adopt a cautious approach. Wait for a break below **FIB 2.168** before considering a short position targeting **0.8724**. Alternatively, if SUI bounces off this level with increased volume, it may present an opportunity for a long position towards **FIB 4.236**. Always implement stop-loss orders to mitigate risks, and stay vigilant regarding market conditions and volume indicators for further insights.
