DreamAnalysis | SUI Coin Analysis Key Spot and Futures Triggers📊 Welcome to Today's Analysis!
Today, we're diving into the SUI coin, exploring its potential and sharing key entry and exit triggers for futures trading. Let’s get started!
🚀 Overview of SUI Coin:
The SUI coin operates within the blockchain and DeFi sectors, and it has recently garnered significant hype. This excitement is clearly reflected in its chart, indicating strong market interest.
📈 Daily Timeframe Analysis:
In the daily timeframe, after breaking the trigger at 1.0193, the price has experienced substantial growth and has now reached resistance at 1.8339. Currently, the price is consolidating just below this resistance level.
🔄 Next Steps:
I believe the price will wait for the SMA25 to align with the candles before any momentum enters the market. If it breaks through 1.8339, we could consider both long futures positions and spot purchases.
If momentum doesn’t materialize, the price may correct to the 0.382 Fibonacci level, which coincides with 1.4324, before initiating its next movement. As long as the price maintains higher highs and higher lows in the daily timeframe, I view the trend as bullish and will refrain from selling in the spot market. The most critical support level for SUI is at 0.7562.
🛒 Spot Buying Triggers:
In addition to the 1.8339 trigger, I prefer the more reliable trigger at 2.1325 for spot purchases, while opening a futures position at the first trigger. The RSI entering the overbought zone will provide additional confirmation for both triggers.
⏱️ 4-Hour Timeframe Analysis:
In the 4-hour timeframe, the weakness of the bullish trend is quite evident. After breaking 1.4324, the volume has decreased significantly. Following this, there was a notable rejection at resistance 1.9009, and the price is currently resting after reacting to the 1.6260 range.
⚠️ Short Position Considerations:
Breaking the trigger at 1.9009 is a viable but risky option for a short position. Given the ongoing bullish trend in the daily timeframe, the risk of hitting a stop loss is high. We could consider opening a primary short position after breaking 1.4324. A break below 44.43 in the RSI could confirm the entry of bearish momentum.
🌟 Long Position Opportunities:
For a long position, breaking 1.9009 presents an excellent opportunity. I aim to open a long position after this resistance is broken. The next trigger for a long position is 2.1325, which I believe is more suited for spot trading, as opening a futures position may prove challenging.
🔍 Conclusion:
Stay vigilant with your trading strategies and keep an eye on these key levels as we navigate the market! Happy trading!
⚠️ Disclaimer:
This information is for educational purposes only and does not constitute financial advice. Always conduct your own research and consult a licensed financial advisor before making any investment decisions.
