Professional Analysis Report for $SUI /USDT
Price Overview
Current Price: $1.8718 (-0.09%)
24h High: $1.9737
24h Low: $1.8657
24h Volume (SUI): 74.07M
24h Volume (USDT): 142.50M
24h Change: -5.11%
Technical Indicators
1. Support and Resistance Levels:
Support Level 1: $1.8657 (24h low)
Support Level 2: $1.8600 (recent volume support)
Resistance Level 1: $1.8800
Resistance Level 2: $1.9200 (previous short-term peak)
Resistance Level 3: $1.9737 (24h high)
2. Volume Analysis:
Volume SMA 9 (short-term volume moving average): 1.5M. This indicates solid trading volume supporting recent price movements.
Higher volume observed around the $1.8600 level, suggesting buyers stepping in at this price point.
3. Price Trend:
The price is in a consolidation phase between $1.8657 and $1.8800 after a notable 5.11% decline in the past 24 hours.
If the price holds above $1.8657, there is potential for a bullish reversal, especially with buying interest around the current support levels.
Trade Recommendations
Long Trade Entry:
1. Entry Point 1: $1.8657
Rationale: This level is the 24h low and a key support area. A strong bounce from here could signal a reversal and continuation of upward momentum.
2. Entry Point 2: $1.8800
Rationale: A break above this short-term resistance could confirm a bullish momentum, aiming for $1.9200 and beyond.
Stop Loss for Long Positions:
Stop Loss: $1.8500
Rationale: A breakdown below $1.8500 would signal further downside potential, invalidating the long trade.
Short Trade Entry:
1. Entry Point 1: $1.9200
Rationale: This level has shown resistance in previous price action. If the price tests this level and fails to break through, it could offer a shorting opportunity.
2. Entry Point 2: $1.9400
Rationale: This level is close to the 24h high. A failure to surpass this resistance would provide a solid entry for a short trade.
Stop Loss for Short Positions:
Stop Loss: $1.9750#XRPDonationsUSElections #GameFiTokensRally #UptoberBTC70K? #SECChairHailsBTCWhitepaper16th #Write2Earn!
