SUI/USDT 1H: Bears in Control, Eyes on $3.50 Reversal Zone !
SUI/USDT 1H Chart Analysis (Smart Money Concepts)
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Current Market Structure:
Key Levels:
Trade Setup (Confidence Level: 6/10):
Recommendation:
Market Maker Analysis:
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Current Market Structure:
- Bearish momentum after breaking support at $4.20.
- RSI: Bearish divergence at the recent high of $4.00, signaling potential continuation of the downtrend.
Key Levels:
- Resistance: $4.20 (previous support turned resistance).
- Support: $3.50-$3.60 (discount zone).
- Current Price: $3.87
Trade Setup (Confidence Level: 6/10):
- No entry recommended at current levels due to:
- Bearish momentum dominance.
- Lack of a clear accumulation pattern.
- Risk Score: 7/10 (high-risk environment).
Recommendation:
- Wait for one of two scenarios:
- Reversal confirmation near $3.50-$3.60 support.
- Break and retest of $4.20 resistance with bullish momentum.
Market Maker Analysis:
- Distribution phase likely still ongoing.
- Market makers appear to be targeting the discount zone ($3.50-$3.60) for potential accumulation before a reversal.
- Observation: Current price action suggests caution; stay patient for stronger confirmation of reversal or trend change.
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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.
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.