Analysis of SUI/USDT (1h timeframe):
• Overall trend: After reaching a bottom at 1.5991 USDT, the price has recovered and peaked at 2.1303 USDT. Currently, the price is fluctuating near 2.0462 USDT.
• EMA: The price is above the EMA(50), EMA(200), and EMA(20), indicating that the uptrend is still maintained.
• MACD: The MACD is near the zero line, not providing a strong signal about the next direction.
• RSI(14): The RSI is at 51, showing no signs of overbought or oversold conditions.
• Stochastic RSI: Currently decreasing, warning of potential slight adjustment.
Trading signals:
• Long at the current price of 2.0462 USDT, expecting an increase if the price holds above the EMA lines.
• TP: 2.1000 USDT (the nearest peak).
• SL: 1.9621 USDT (EMA(200) support).
Reason: The uptrend is still ongoing with support from the EMA lines, but note that the Stochastic RSI shows signs of adjustment.$SUI
