SUI/USDT 1H: Bullish Breakout Confirmed – Can $2.65 Be Reached?
Current Market Conditions (Confidence: 8/10):
LONG Trade Setup:
Risk Score:
Market Maker Activity:
Recommendation:
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Current Market Conditions (Confidence: 8/10):
- Price at $2.40, showing a strong breakout from the accumulation zone.
- RSI at 60.41, indicating bullish momentum with room to run higher.
- Clean break above $2.35 resistance with strong volume confirms bullish intent.
- Hidden bullish divergence forming on RSI, reinforcing continuation potential.
LONG Trade Setup:
- Entry: $2.38 - $2.42 zone.
- Targets:
- T1: $2.50 (first resistance).
- T2: $2.65 (major liquidity zone).
- Stop Loss: $2.30 (below recent support).
Risk Score:
- 7/10 – Favorable risk-to-reward, but watch for temporary resistance at $2.50.
Market Maker Activity:
- Accumulation is evident with minimal selling pressure above $2.35.
- The clean break of resistance suggests a continuation of the uptrend.
- Strong support is established at $2.30, with clear order blocks reinforcing demand.
- Bull flag pattern forming, signaling an imminent move higher.
Recommendation:
- Long positions remain favorable in the $2.38 - $2.42 range.
- Monitor price action at $2.50, as this level may provide temporary resistance.
- If volume continues to increase, expect a move toward $2.65.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.