Sold my SUI, but I will buy back I sold most of my SUI positions today.
My overall bias for SUI is still bullish. However, there are some bearish signs in weekly and daily charts. My main concern is if the bear trend resumes in the higher time frame, it will take weeks and months for the price to recover. Meantime, I identified long opportunities in other crypto currencies. I rather realise the profit and reallocate it to others.
The reasons for concerns:
Weekly:
Both RSI and Stochastic have reached the overbought territory and are rolling down.
MACD is losing bull momentum and MACD lines are about to cross to the downside. The similar setup happened in April 2024 and the price continued to drop for four months.
Daily:
The daily MACD and RSI are presenting clear negative divergence. The price also dropped and closed below the ascending trendline (orange line in the chart), and retested and dropped below the trendline as well as Fib 0.236.
All daily momentum indicators are entering the bear zone.
The reasons for not selling:
Although the current chart setup looks pretty bearish, there is a chance it can be a bear trap. Large crypto exchanges and market makers can drop the price to liquidate long positions.
For instance, the price fell and closed below the trendline on Oct 25th 2024 ( red vertical line in the chart) after forming negative divergence. But the price quickly recovered and started a parabolic leg up. There is a possibility the same scenario can play out this time as well. I might regret selling my positions, however, although the last time,the price dropped below the trendline, it stayed above EMA 55. This time, it is dropping below EMA55.
In summary, I sold my SUI positions because I cannot ignore some strong bearish signs in the higher time frames. Although I still think SUI will perform in the long run, I have identified other crypto currencies that will outperform SUI for now. The opportunity cost of not taking profit and reallocating to others is too great to miss. I will let go of SUI for now, but I will definitely buy back when the bull momentum comes back.
SSSUIUSD Perpetual Swap Contract
3.5431USDR
−0.0712−1.97%
As of today at 06:15 GMT
USD
No trades
SUIUSD.P trade ideas
[SUI] with another (+45%) to (+85%)Sui looking great for continuation with strong momentum and moneyflow increasing, it broke the accumulation for almost one and a half years indicating a possible reach for higher prices. Despite some daily bearish divergences that could lead a drop to $4 again, in the next months it will possibly reach the target.The target is between 3.618 and 4.618 fibonacci extension levels and a measure move from the lows to the highs of the accumulation.
TARGET: $7.0388 to $8.8564 up to (+85%)
The Fast Track to Target 3 (8.55$+)📈 Sui (SUI): 🚀 Targeting $8.85 – The Momentum is Real! 🌊
SUI is showcasing tremendous bullish potential on the 12H chart, breaking through critical levels with strength. With Target 1 and Target 2 already achieved, the price is building momentum to reach the next major milestone at $8.85 (Target 3) faster than anticipated!
Technical Breakdown:
Ascending Channel: SUI continues to trade within a strong bullish channel, respecting higher lows and higher highs.
Key Support Levels:
$4.37: Immediate support to watch for a healthy retracement.
$3.62: Deeper support zone, providing a solid base for continuation.
Upside Potential:
Break above $5.87 clears the path toward $7.19 and eventually $8.85 (Target 3).
Why Sui Could Accelerate to $8.85:
Innovative Technology: Sui's Move programming language enables faster, more secure smart contracts, attracting developers and projects.
Ecosystem Growth: Sui is rapidly becoming a go-to blockchain for Web3 gaming, NFTs, and metaverse applications.
Institutional Backing: Support from venture giants like a16z underlines long-term confidence in the project.
Bullish Sentiment: The market's growing confidence in Sui is reflected in the strong upward price movement.
The Fast Track to Target 3 🚀
If SUI maintains its current momentum, we could see an accelerated move toward $8.85, fueled by its expanding ecosystem and bullish technical setup. Watch for volume surges and decisive breaks above $5.87 for confirmation of the next leg up!
What’s your outlook on Sui’s potential? Do you think $8.85 is achievable soon? Share your thoughts below! 👇
One Love,
The FXPROFESSOR 💙
BUY!!I bought more SUI this morning.
I use two time frames to decide a trade entry - i.e. weekly/daily or daily/4h.
1) I use stochastic in a higher time frame to confirm the direction of my bias. If I am interested in going long, I first look at the daily stochastics (9,3,3) is reset, crossed and pointing upwards.
2) If the first condition is met, I am going to check the 4H chart and start looking for an entry area. I draw clear horizontal support/resistance area and also an ascending/descending trendline (only if it is a very clear trend). Don't draw too many lines. Keep it simple.
3) I open a position, if the price closes and bounces off the key resistance/support/trendline, and MACD lines cross and point upwards in the bull zone.
SUI chart is presenting the perfect scenario, Therefore, I bought more SUI this morning.
I don't leverage trade so I don't have a predetermined stop loss/profit target. I will probably close my position if a daily candle moves below, retests and closes below the red support line. I usually take the initial profit when a clear negative divergence appears in either 4H or daily chart.
P.S.
I sold Sui last week, because it was forming a massive negative divergence in the daily chart. I was anticipating a much larger price correction, however, the fundamentals for the overall crypto market are very strong and now Bitcoin is recovering. So, I decided to buy back and added more this morning. I plan to hold it for the entire Bitcoin cycle.
SUI long position Trade Recap: Key Levels and Projections
Entry: $4.485
SL: $4.37
TP Zone: $4.7558
Observations:
Top Zone Break:
2 candles broke $4.7558 → Signals potential bullish momentum.
Key Support: Bottom of Top Zone at $4.7570.
Targets:
T1: $4.7769
T2: $5.07
Projections:
Bullish Case:
Hold above $4.7570 → Momentum toward ATH.
Bearish Case:
Break below buy zone → Move to Next Zone starting at $4.4276.
Below that, possible dip toward $4.4276 - $7.4276 range.
BUYI sold my SUI last week because the daily MACD had been forming a very clear negative divergence. It is my profit taking rule - sell some when clear negative divergence appears in the 4H or daily. I followed my rule, but I ended up buying back yesterday.
I usually rely on the interaction between MACD and Stochastics to gauge the strength/weakness of the price move. Both indicators were clearly showing the downward move. However, RSI was stubbornly refusing to go below 50 level and RSI slow MA (Orange line) stayed horizontal and eventually started to tilt up. I started to look at the price action in the lower high frames and I could see the price was refusing to move below the bottom parallel channel.
My general bias for SUI is extremely bullish. Both fundamentals and technical set up support its long term upside move. The price may be choppy around $4.95 zone (the previous month high/previous week mid) and the price may retraced when it reaches the resistance area, but there are many layers of buy blocks sitting below. It is also good the 4 hour candle moved above and is now departing from EMA 21. The 4H MACD hasn't entered the bull zone, however, MACD lines are getting wider and wider apart as it approaches the bull zone, therefore, even though it is not confirmed MACD is in the bull zone, the probability for it to eventually enter the bull is high.
There are enough signs for bullishness. I am regretting that I sold my SUI. I followed my rule but I feel it was an unnecessary move especially I wasn't trading. That massive negative divergence in the daily chart shook my nerves! Now I bought back SUI and I plan to ride it during this Bitcoin cycle.
SOLD SUI and waiting for re-entryI had been accumulating SUI since last Sept when it broke above $1.0. But yesterday I sold my SUI position. It is probably not a good idea for many, but I did.
My overall bias for SUI is extremely bullish and I believe it will go much higher once BTC decides to move up. However, both daily RSI and MACD were forming a very clear negative divergence over two months. On top of that, the price tried to reach ATH, but failed, retested the previous higher high but failed. It gave me a sign of the weaking, so I sold it.
Now, I am going to wait for an opportunity to buy back. My rules for a long entry are as follows:
I use two time frames - weekly/daily and daily/4h.
My first rule for long:
1) MACD in the higher timeframe needs to be in the bull territory which is above 0. The angle of MACD is not important. It needs to be in the bull zone.
2) Stochastics (9,3,3) in the higher timeframe needs to reset and stochastics lines need to cross and start to move upwards. It cannot be in the overbought territory. If these two conditions are met in the higher time frame, I go to the lower time frame to start looking for an exact entry point.
3) MACD lines in the lower timeframe properly cross and enter the bullzone or cross and move upwards above the bull zone. Green vertical lines I drew in the chart are good examples.
4) Stochastics (9,3,3) in the lower timeframe cannot be in the overbought territory.
5) if the price is taking off from the critical area such as EMA21and resistance/horizontal/trendline, it even confirms it is a good area of entry.
SUI (Sui): Bullish Momentum as Price Nears Key🔥 Potential Price Targets for Next Month:
🩸 Near-term Goal: $5.00
🩸 Long-term Goal: $4.50
🔥 FinCaesar's Strategy:
🩸 Long: Above $4.50, targeting $5.00 and $5.50. The bullish MACD momentum and strong EMA support further gains.
🩸 Short: Below $4.50, targeting $4.00 and $3.50. A breakdown could signal a potential reversal.
🔥 FinCaesar's Commands:
🩸 Resistance: $5.00 — The key resistance to overcome for bullish continuation.
🩸 Support: $2.67 — A breakdown below this could lead to deeper downside.
Sui is currently in a bullish phase, with MACD momentum indicating further upward pressure. If the price can break through $5.00, expect further gains. However, if $4.50 holds as support, expect a potential consolidation around $4.50.
👑 "In the face of strength, precision is key—seize the moment." — FinCaesar
SUI Intermediate Short TradeHowdy everyone!
SUI has been on a tear!
Well, I think that BTC is showing a nice sized reversal before the final parabolic phase of this bull market. I also think that SUI has hit an area of interest, and it is way overbought.
I think that shorting as close to the current 4.236 of this fib sequence at $5.26 is ideal.
Entry - As close to $5.26 as possible. Once we get further confirmations, there will be multiple areas that you can enter a short. I am attempting to catch the reversal here. My take profits are based on catching the reversal.
Take Profit = TP
TP 1: 3.26-3.72
TP 2: 2.85-3.02
TP 3: 1.98-2.50
TP 4: 1.24-1.65
Stop Loss: Above current ATH of $5.36
This depends on how big of a correction that BTC gets. We have a monthly shooting star on BTC, and BTC is showing head and shoulders on multiple timeframes (1D, 2D, etc.)
Thank you and please trade safely!
SUI is about to FLY HIGH!So, there was a lot of FUD about SUI being rejected at the $4.98 resistance level and yesterday it passed it. Today we are seeing a healthy test above $5.00 which means that support will now be $4.98 and an upward climb to $10.00 shall commence. Im loading up bags at the daily/weekly close today once the above is confirmed. as long as BTC doesn't go bearish then there is no reason SUI wont continue this climb. Definitely a great opportunity on a solid project. -This is not financial advice...
SUI/USDT: Breaking Out Towards Higher HighsThe cryptocurrency SUI is building strong momentum, with its USDT pair (SUI/USDT) showcasing encouraging price action. Here’s a detailed look at the current technical outlook and potential scenarios:
Price Action Highlights
Ascending Channel: SUI/USDT is trading within a clearly defined ascending channel, maintaining respect for both upper resistance and lower support boundaries. This pattern highlights the prevailing strength of the uptrend.
Breakout Confirmation: The pair recently broke out of a consolidation phase, specifically a triangle formation, signaling bullish continuation above the critical $5.00 level.
Target Projection : Given the current trend, the next target lies just below the $10.00 level. The ascending channel and breakout momentum provide strong technical support for this bullish scenario.
⚠️ Disclaimer: This analysis is for informational and educational purposes only and does not constitute financial advice. Conduct your own research and consult a professional before making any investment decisions.
SUIUSD Still holding the 1D MA50 after 4 months! Bullish to $10.Sui (SUIUSD) has been trading within a Channel Up since the August 05 2024 market bottom. The last 10 days of December are seeing a vicious test of the 1D MA50 (blue trend-line), which is so far holding as Support.
In fact the last time we had a 1D candle close below it, was 4 months ago (September 05 2024). With the 1D RSI making a bullish reversal and breaking above its MA (yellow trend-line) while the 1D MACD is about to make a Bullish Cross, both indicators in similar fashion as the bottoms of October and September 2024, we treat the current consolidation above the 1D MA50 as the strongest buy signal of the past 2 months.
The previous two Bullish Legs both rose by exactly +219.25%, so our Target is currently a little below that margin at $10.000.
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Ascending Triangle on SUI?SUI is showing promising signs of forming an ascending triangle pattern, a classic bullish technical formation that traders closely monitor for potential breakouts. This pattern emerges as the price continues to make higher lows, indicating growing buying pressure, while encountering resistance at a consistent horizontal level. The tightening price range suggests an impending decision point as bulls and bears battle for dominance.
With trading volumes often playing a critical role in confirming the breakout, it’s essential to watch for a surge in activity near the resistance zone. If SUI successfully breaks above the resistance, it could signal a strong upward momentum, potentially taking the price to new highs. However, it’s important to remain cautious, as false breakouts can occur, and any sustained movement below the lower trendline could invalidate the pattern.
Overall, the ascending triangle pattern reflects increasing investor confidence in SUI. Patience and disciplined risk management will be key for traders looking to capitalize on this setup. Keep an eye on key support and resistance levels, and prepare for potential volatility as the pattern approaches its apex!
SUIUSD: The 1D MA50 held again. Bounce incoming.SUI turned stayed bullish on its 1D technical outlook (RSI = 58.166, MACD = 0.287, ADX = 25.285) as the short term pullback stopped right on the 1D MA50, touching it for the first time since November 5th. This kept the Channel Up intact while the RSI hit and bounced on its own 4 month S1 Zone. This is the buy signal for the new bullish wave. We are bullish and aiming for the minimum +140% increase (TP = 7.000).
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