SUIUSDT.1DAs of today, the SUI/USDT pair presents an intriguing landscape in the crypto market. On the daily timeframe, we've observed a significant downtrend that has been in play since the peak in early May. The current price stands at $0.899, reflecting a recent decline indicated by the red candles dominating the chart.
Key Support and Resistance Levels:
Resistance 1 (R1): $1.0031 - This level previously acted as support during early June but has since transformed into a resistance zone.
Resistance 2 (R2): $1.1984 - A critical high point that was last tested in late April and remains a significant upper barrier.
Support 1 (S1): $0.7641 - The current chart displays this as a pivotal support level that could dictate short-term movements.
Technical Indicators:
MACD: The Moving Average Convergence Divergence (MACD) is trending below the signal line, illustrating bearish momentum. The negative histogram values further validate this sentiment.
RSI: The Relative Strength Index (RSI) sits around 39, indicating a bearish momentum but not yet in the oversold territory, suggesting that there could still be room for downward movement.
Analysis Conclusion:
Given the prevailing market conditions, where bearish signals dominate both from price action and technical indicators, I am inclined to maintain a cautious stance. While the current support at $0.7641 may offer temporary relief, the resistance at $1.0031 and $1.1984 poses significant hurdles for any bullish recovery.
Investors and traders should monitor these levels closely. A breach below the current support could lead to further declines, whereas a push above the first resistance might signal a potential shift in momentum. Always consider market news and broader economic factors that could influence price actions significantly.
SUIUSDT trade ideas
SUIUSDT.1DIn this technical analysis of the SUI/USDT daily chart, I'll examine the latest price movements and key technical indicators to forecast potential future trends.
Key Observations:
Current Price and Movement:
SUI/USDT is currently trading at $0.8989, showing a decline of 2.30% for the day. This suggests some bearish pressure in the recent trading session.
Support and Resistance Levels:
R1 (Resistance Level 1): $1.0031 - This level represents a near-term barrier that SUI needs to surpass to signal a stronger bullish momentum.
R2 (Resistance Level 2): $1.1984 - A higher resistance level that could come into play if a significant uptrend develops.
S1 (Support Level 1): $0.7641 - Marked as the immediate support, a crucial level to watch if the current price continues to decline.
Technical Indicators:
MACD (Moving Average Convergence Divergence): Currently, the MACD line is below the signal line, suggesting bearish momentum. The separation between the lines indicates that the bearish trend may still be strong.
RSI (Relative Strength Index): At 39.76, the RSI is approaching oversold territory, which might indicate that SUI is becoming undervalued and could potentially see a reversal or stabilization soon.
Analysis and Conclusion:
The current trading dynamics for SUI/USDT indicate a bearish trend with the price nearing the support at $0.7641. The key to future price movements will be whether this support can hold. Should it fail, it may signal further declines and potentially test lower levels not marked on the chart.
Conversely, if the support at $0.7641 holds strong, it could serve as a foundation for a potential rebound. Traders should watch for a reversal pattern or bullish signals from MACD and RSI as indicators of a possible shift in momentum. If a reversal occurs, SUI could attempt to break above the resistance at $1.0031, targeting the higher resistance at $1.1984.
Given the RSI's approach to oversold conditions, there could be an opportunity for buyers to step in soon, particularly if other market or external factors support a bullish sentiment. However, the prevailing bearish MACD suggests that caution is warranted.
In summary, traders should monitor SUI/USDT closely at the $0.7641 support level for signs of stability or a further breakdown. The interplay between the current bearish MACD and nearing oversold RSI conditions could provide interesting trade setups. As always, employing proper risk management strategies is crucial in navigating the potential volatility.
$SUI/USDT - Breakout June/July 24NYSE:SUI seems to be on the bull div on HTF, it is going to ping the 50day EMA soon and if it successfully breaks-out of that neckline it will go all the way. Keep a close eye on that .382 level this is the main resistance zone where it needs to push hard to make its way into the bull cycle!
Beware, use caution and make your entries on super low lev here until BTC has finally settled and bounced off of a strong support line which is in my hypothesis 62.5 - 59 anywhere between those lines. Can happen real soon.
July should give us good green market.
Green trading ya'll
#SUI/USDT#SUI
The price is moving within a 1-hour downtrend channel and is strongly committed to it.
We have a support area at 1.00 and we bounced from it at the lower border of the channel
We have a tendency to stabilize above the Moving Average 100
We have a downtrend on the RSI indicator that supports the rise
Entry price is 1.028
The first goal is 1.07
Second goal 1.12
Third goal 1.16
M Pattern watch for Short/Long at the retest of the Neckline.M pattern, at the bottom of a bearish trend, tends to signal a continuation of a bearish trend.
IN line with BTC's M pattern on the smaller time frame and the potential of M pattern on the weekly for BTC I make this.
I think it will be a rejection from the neckline but we have to watch for confirmations.
If it is rejected from the M neckline we should also watch for a higher low around the pink trend line which would signify a return to the upside.
I hope this helps you see what we're going against. Some good options here. Depending on how BTC reacts around its necklines, it could be bearish or bullish.
I'm still learning but this is something I see, please don't follow it, is just for me to get feedback from those that are better.
My last idea actually missed a key area and my shape was invalid because of wicks, so just bare that in mind, i am a very basic trader
SUI to $1.08I'm feeling very bullish with NYSE:SUI in its current state. Looking at the hourly TF, I noticed that the last pump from the support area of 0.9310 was 31 days ago. The pump prior to that from the same price point also happened exactly 31 days before the last pump. My thesis, is that this will repeat the same swing back up to that $1.10 level. I've set my take profit 1.53% below the fib level of 38.2.
My entry was at 0.92930
TP: 1.08
SL: 0.9045
Take this trade at your own risk & always remember to do your own due diligence. Good luck to both bulls&bears.
Let me know your thoughts down below.
SUI Inverse head & ShouldersIf it can continue and break the neckline with strength.
I am looking at both targets to be hit convincingly.
Nice Pattern
looking for #ETH to start showing strength
Than more of these smart contract platforms can get running hard as well.
Don't in the Bull market Things get stupid
And prices go to levels that we may have. hard time imagining today.
Especially on tokens that haven't been exposed to a hype cycle before.
#SUI / USDT long trade setupNYSE:SUI was dumped by its VCs after a 20% token unlock on May 9th. This created prolonged selling pressure.
However, this project is a major new L1 blockchain, and this dump has actually created a good buying opportunity.
NYSE:SUI is poised to recover. There is still some selling pressure, as seen in the price action, so do not expect it to go to the moon like $PEPE. That is why I set my targets relatively low. I will update if the plan is successful.
My price target for the bull run for NYSE:SUI is between $8 and $10, so NYSE:SUI at $1.05 is really cheap in my opinion.
This is not financial advice. Do your own research (DYOR).
Long position on SUIUSDT 8H / Trading SetupBINANCE:SUIUSDT
COINBASE:SUIUSD
Hello dear traders.
Follow for more analysis and positions.
Long position on SUIUSDT 8H
⏱mid-risk status: 2x - 5x Leverage
⚡️TP:
1.135
1.165
1.20
1.27
1.32
1.356
1.425
➡️ SL:
1.028
The Alternate scenario:
🔴If the price stabilizes below the trigger zone, the setup will be cancelled.
Alikze »» SUI | Wave 3 or short-term bullish C scenario🔍 Technical analysis: Wave 3 or short-term bullish C scenario
- It has a bullish guard in the 4H time frame.
- After an upswing to the 1.172 range, it has had a zigzag correction.
💎 Currently, according to the upward momentum, it can have a pullback to the broken structure (green box) to continue the upward trend.
- The 1.025 area can be used as a support to continue the path.
- This ascending wave can be in the form of ascending wave 3 or C in the short term. Therefore, 💎 the first target of that supply range is the 0.78 fibo range and after that the ceiling of the channel is the 1.29 range.
💎 If the upward trend continues, it can be considered as a support for the next supply area after the failure of the supply area.
💎 In addition, if the previous floor range is broken, it can invalidate the bullish scenario, in which case it should be updated.
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#SUI Buying Frenzy: Seize the Opportunity Now!**Technical Analysis Chart Description:**
Welcome to my Technical Analysis charts on TradingView! Before we dive into the analysis, it's essential to understand some important warnings:
1. **Subjectivity Alert:** Technical analysis involves interpreting market data and chart patterns, which can be subjective. Different analysts may interpret the same data differently, leading to varied conclusions.
2. **Historical Performance Doesn't Guarantee Future Results:** Past price movements do not guarantee future price movements. While historical data can provide insights, it's crucial to consider other factors that could influence price action.
3. **Risk of False Signals:** Technical indicators and chart patterns can produce false signals, leading to potential losses if relied upon blindly. Always cross-verify signals with other indicators or fundamental analysis.
4. **Market Volatility:** Crypto markets are highly volatile and can experience rapid price fluctuations. Be prepared for sudden and unexpected price movements, which may invalidate previously identified patterns.
5. **Risk Management:** Proper risk management is essential. Never invest more than you can afford to lose, and consider using stop-loss orders to mitigate potential losses.
6. **Emotional Bias:** Avoid emotional decision-making based on short-term price movements. Stick to your trading plan and strategy, and don't let fear or greed influence your decisions.
**Disclaimer for Crypto Trading:**
Trading cryptocurrencies carries inherent risks, and it's important to understand the following:
Cryptocurrency markets are highly speculative and can be subject to extreme volatility. Prices can fluctuate significantly within short periods, leading to substantial gains or losses.
Investing in cryptocurrencies involves the risk of total loss of capital. Unlike traditional assets, cryptocurrencies are not backed by any tangible assets or central authority, making them inherently risky.
Regulatory uncertainty and market manipulation are additional risks associated with cryptocurrency trading. Regulatory changes or negative news can have a significant impact on prices.
This analysis is for informational purposes only and should not be construed as financial advice. It's crucial to conduct thorough research and consult with a qualified financial advisor before making any investment decisions in the cryptocurrency markets.
By using this analysis, you acknowledge and accept the risks associated with cryptocurrency trading and agree to trade at your own discretion. The author of this analysis shall not be held responsible for any losses incurred as a result of using the information provided.
Descending Triangle also by the rules of the pattern, this is as low as it can go, but the breaks out never really go the full way it's just the maximum it can drop as per the pattern. but these patterns always play out you just have to watch the retest on the back side for invalidation.
Also when they finish the break out the bounce back is big and fast and comes back past the triangle most of the time if not to the top of the triangle and you have to be fast anyone that's enough in this server everything else can be discussed in the other server.
sorry my dudes
SUI price: Ready...steady...Go !)Six months have passed since the publication of the previous #SUIUSDT idea
During this time, the NYSE:SUI price has made a cool route:
$1,16 👉 $2,10 👉 $0,88
"modestly", but in principle, everything is as predicted)
Now, looking at the #SUIUSDT chart, we can say that $0.88 was the very bottom, twice confirmed. And there may be good growth ahead.
Do you believe in SUI? Do you hold SUI?
💰 Then the medium/long-term target of $3.50 for #SUI is just for you