SUI /USDT - Market Analysis for December 21, 2024
🔷 Coin Name: SUI /USDT
🟩 Trend: Long
♻️ Leverage: 5x (Recommended)
👉 Entry: 4.73
Target 🎯:
1. 4.85
2. 4.92
3. 5.00
4. 5.10
Stop Loss (SL) ⛔: 4.60
Market Overview:
The SUI/USDT pair is showing strong upward momentum with a 24-hour change of +34.18% as of the latest price (4.7651). This coin has been experiencing significant volatility, with a high of 4.91 and a low of 3.49 in the past 24 hours, indicating solid movement potential in the near term.
• Support Level: 4.60 (key price level to watch for holding or a potential pullback).
• Resistance Level: 4.90 (we may see some resistance here as the price approaches this zone).
Based on the market’s bullish trend and momentum, the outlook is more favorable for long positions at this time. Trading volume is substantial, indicating strong market interest.
Sentiment Analysis:
• Long: 69.56%
• Short: 30.44%
Technical Indicators:
• The price is trending above the moving averages (50 MA and 200 MA), which supports the bullish outlook.
• RSI is nearing the 70 range, indicating the possibility of overbought conditions but also showing the strength of the trend.
This analysis suggests that SUI/USDT is primed for continuation on the upward path, but traders should remain cautious near the 4.90 resistance zone. If the price breaks through this resistance, it could see higher levels of 5.00 and beyond.
