SUI Night Market Bold Analysis and Forecast
Market Overview
As of November 18, 2024, the spot price of SUI is $3.7737. In the past 24 hours, SUI reached a high of $3.850 and a low of $3.650, with a trading volume of approximately 2.1 million tokens. The current market shows strong volatility, with prices fluctuating multiple times within this range without significant breakthroughs, indicating a certain cautious sentiment in the market.
Technical Analysis and Key Levels
From a technical perspective, SUI's current price trend presents a range-bound pattern, establishing clear support and resistance levels.
• Support Level: Around $3.650, this area has rebounded multiple times, showing certain buying support. If this level is broken, it may lead to larger pullback space.
• Resistance Level: Around $3.850, this price level has faced selling pressure multiple times and has not been able to break through effectively, indicating strong selling pressure.
In the short term, if SUI continues to fluctuate between $3.650 and $3.850, investors should pay attention to the movement of breaking through these key price levels. Once a breakthrough occurs, it may bring about larger price fluctuations.
Short-Term Contract Strategy
Based on the current market trend, the following T+0 short-term trading strategies are recommended:
1. Long Strategy
• Entry Point: When the price pulls back to the **$3.680-$3.700** range, consider establishing a long position. This area serves as a support range with a high probability of rebound.
• Stop Loss: Set the stop loss at **$3.630**. If the price falls below this level, the market may decline further, and timely stop loss can reduce risks.
• Target Price: The target price can be set in the **$3.820-$3.850 range. If this resistance level is broken, the price may further rise to $3.900**.
Leverage Suggestion: Use 5-10 times leverage, as SUI's volatility is significant, and moderate leverage can amplify profits, but ensure risk control.
2. Short Strategy
• Entry Point: If the price rises to the $3.830-$3.850 area, consider establishing a short position. This area has strong selling pressure and may see a pullback.
• Stop Loss: Set the stop loss at $3.870. If the price breaks through this level, it may continue to rise, and timely stop loss is necessary.
• Target Price: The target price is $3.700-$3.650. If the price falls back to this range, consider closing the position.
Leverage: Use 3-5 times leverage
