📊 SUI Trade Analysis 📈Current Situation:
SUI has successfully flipped the previous resistance level into support, demonstrating strong bullish momentum and a healthy setup for a long position.
Trade Strategy:
Entry Point: Enter a long trade above $1.10.
Take Profit Targets: $1.30, $1.50, $1.70
Stop Loss: Set a stop loss just below $1.01 to manage risk effectively.
📊🔍 Monitor the price action closely and adjust the strategy as necessary to align with market conditions. #SUIAnalysis #CryptoTrading 🌐🔒
Suianalysis
SUI target $1012h time frame
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SUI is a potential Layer 1 blockchain and smart contract platform. Price goes well and builds a health trend for bullish side. Although SUI has been dipping for around 1 month, it just gained support from 61.8% Fibonacci retracement, that could be seen as a standard and normal correction before next pump starts. Considering the current market cap. is 1.5B and total supply is 10B, I predict SUI's MC can reach or even go over 100B, that will bring the price go above $10, and should sell most positions once hit $12.
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Bull target: $10~$12
SUI target 2.744h time frame
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SUI made a cup and handle, then pulled back after hitting 2.17. Also, the target of CH pattern hasn't been reached yet. If use fib on that cup structure, we can see SUI got support at 0.618 fib and went up to 1.272 fib, then still retest 0.886 fib, this is a standard momentum accumulation path for next pump once SUI be supported from price 1.82~1.97.
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TP: 2.74
🌟 SUI: Potential Shift in Structure! 📈💹📊 Analysis:
Interesting Level: SUI is at an interesting level, flipping its range high into support.
Short-Term Downtrend: A potential break from the short-term downtrend is anticipated.
Higher Low Formation: Aiming for a higher low formation after breaking previous highs at $1.70.
Entry Range: Consider laddering into a spot long between $1.4 and $1.7.
Take Profit Levels: Potential profits at $2 or $2.82.
Stop Loss: Set a stop loss under $1.34.
🌐 Note: Monitor SUI's price movement and adjust your strategy based on market conditions.
#SUI Waiting for confirmation to break rangeIn time H4, it completed a correction cycle and returned to the indicated support. If the red box breaks the first one, you can enter the buy position. Otherwise, with a negative reaction in the red box, you can enter the reverse position until the bottom of the upward movement.
SUIUSDTThis is a 1D frame analysis for SUIUSDT As we can see, the price was able to bounce back after hitting the support line and start moving upwards. However, the price is currently below the resistance line and is volatile. If it can establish itself above the resistance line, it can start to move towards the next resistance line and, as we can see, the price has been able to show us an inverted head and shoulders pattern which can indicate an upward trend and we can expect to see a price increase.
SUI hints at a local growth wave - long trade #2Hello colleagues!
It's time for the second potential trade that we are planning to implement. This is a long on the cryptocurrency SUI.
Unfortunately, we did not manage to execute the first trade , as the price of BTC started to fall sharply without us.
On 17 August, the SUI cryptocurrency updated its local low. The update of the local low occurred on increased volumes. The latest wave of decline in SUI has "resurrected" buyers, who have organised a good rebound to the $0.56 range.
We would like to pay special attention to the local wave of decline from 20 to 22 August. This wave of decline was on good volumes. However, sellers were unable to push the price below the previous local low of 10 June.
This is a good signal that a large buyer is ready to keep the price of SUI up at least in the short term. Another good signal is the active rebound of the SUI price after the $0.51 test.
Taking these arguments into account, we want to enter a long trade for SUI:
Enter = 0.5204 - this is the range where the position was entered. If the price is to rise, it should not fall below this range.
Stop = 0.5039 (-3.2%) - in our opinion, it makes no sense to keep SUI below this level
TP = 0.612 (+ 17.6%) - The price of SUI may not rise above this liquid zone at first.
P/L ratio = 5.5
We also allocate $10,000 for this trade . In case of a mistake, our loss will be $320, and in case of trade execution, our profit will be $1760.
What do you think of this trade? How do you see the situation with SUI? Write in the comments below our forecast