SUI/USDT : Potential Upswing Ahead
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The **SUI/USDT** pair is currently moving within a **descending channel** on the **4-hour chart**, indicating a possible upward continuation. Key observations include :
- **Trend Stabilization**: The price is stabilizing above the **100-period moving average**, which is a positive sign for further upward movement.
- **RSI Indicator**: The **Relative Strength Index (RSI)** shows a descending trend, but a breakout upwards is anticipated, supporting a price rise.
- **Support Level**: A significant support area is identified at **$1.70**, which could act as a safety net for price action.
- Entry and Targets :
- **Entry Price**: **$1.79**
- **First Target**: **$1.88**
- **Second Target**: **$2.03**
- **Third Target**: **$2.16**
Conclusion :
The technical indicators suggest that **SUI/USDT** may be on the verge of an upward movement, especially if it can stabilize above the moving average and break through the RSI resistance.
Advice :
- Monitor Entry Points : Consider entering at **$1.79** and closely observe the price action as it approaches the targets.
- Stay Vigilant : Keep an eye on the support level at **$1.70** to ensure that it holds; this will be crucial for maintaining bullish momentum.
- Strategic Targeting : Set clear profit targets at **$1.88**, **$2.03**, and **$2.16** to maximize potential gains while managing risk effectively.