Technical Analysis and Trade Signals for $SUN
/USDT:
Technical Analysis for SUN/USDT
Price: 0.02170 (+11.34% in the last 24 hours)
24h High: 0.02228
24h Low: 0.01873
Key Support & Resistance Levels
Support Level 1: 0.02127 (Parabolic SAR & Middle Bollinger Band)
Support Level 2: 0.02071 (Lower Bollinger Band)
Resistance Level 1: 0.02184 (Upper Bollinger Band)
Resistance Level 2: 0.02228 (24h High)
Resistance Level 3: 0.02250 (Psychological Resistance)
Momentum Analysis
Bullish Momentum: The price has been trending upward with an 8.23% increase in the last hour and is nearing the upper Bollinger Band, suggesting continued bullish momentum.
Trend Indicator: The price is above the Parabolic SAR level at 0.02127, indicating a bullish trend.
Volume: Trading volume in SUN is at 1.66B, which is relatively high, signaling strong market participation.
Trade Signals
Long Position (Buy Signal)
Entry Point: Around 0.02150 – 0.02170 (current price zone)
Target Levels (Take Profit):
Target 1: 0.02200 (Intermediate Resistance)
Target 2: 0.02228 (24h High Resistance)
Target 3: 0.02250 (Psychological Resistance)
Stop Loss: 0.02110 (just below support at SAR and middle Bollinger Band)
Short Position (Sell Signal)
Entry Point: If the price fails to break above 0.02228 and starts to reverse
Target Levels (Take Profit):
Target 1: 0.02127 (SAR & Middle Bollinger Band)
Target 2: 0.02071 (Lower Bollinger Band)
Stop Loss: 0.02250 (above resistance)
Trade Momentum
The momentum is bullish with increasing volume and price action near the upper Bollinger Band. However, a break above 0.02228 is crucial for further continuation towards 0.02250.
Risk Management: A cautious approach would be to set a tight stop loss just below 0.02127 (the support), as this could act as a turning point if the price fails to continue higher.
Summary
Bullish scenario: Watch for price action around 0.02228. If broken, the next target is 0.02250.
Bearish scenario: If price struggles to break 0.02228, consider a pullback toward 0.02127 (or lower).
