SUIUST trade ideas
SUI Wave 4 CorrectionMy primary wave count considers SUI has finished wave 3 with an ending diagonal, and we're now in wave 4 correction.
The 38.2% pullback has a solid support level, but ideally I'd like to see a test of 50% pullback.
Considering wave 3 was extended (over 200% of wave 1), wave 5 will probably not go much higher than 2.3680.
SUIUSDT**SELL. Don't forget about stop-loss.
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P.S. I personally will open entry if the price will show it according to my strategy.
Always make your analysis before a trade
SUI/USDT Fibonacci and Channel Breakdown - Potential Retracement**Title: SUI/USDT Fibonacci and Channel Breakdown - Potential Retracement Areas**
In this daily chart of **SUI/USDT**, we can observe a few key points of interest:
1. **Ascending Channel**: The price is currently within an ascending channel (outlined by the purple lines). This channel has supported the upward momentum but may now be testing key support levels.
2. **Fibonacci Retracement Levels**: The Fibonacci retracement levels (0.618 and 0.65) are placed between **$1.9855** and **$1.9655**. These are important levels to watch for potential bounce scenarios as price retraces from recent highs.
3. **Volume Profile**: The visible volume profile (on the left) suggests heavy trading activity around the **$2.0248** mark, acting as a possible point of control (POC). If price breaks through, this area could become a strong resistance.
4. **Support and Resistance Levels**:
- Daily resistance at **$2.3358** (upper bound).
- Immediate resistance at **$2.1290**.
- The monthly support is set around **$1.9148** and **$1.8334**, which could act as lower target areas if the retracement continues.
5. **RSI Divergence**: There is a clear **bearish divergence** on the RSI, suggesting a potential slowdown in the upward momentum and a possible correction.
6. **Stochastic Oscillator**: At the top of the chart, the stochastic shows a crossover, which could indicate short-term selling pressure.
**Summary**: Watch for price action around the key Fibonacci retracement levels. A break below the **0.618/0.65** retracement could lead to further declines toward the monthly support zone at **$1.9148** and **$1.8334**. On the upside, reclaiming the **$2.1290** level could see a continuation towards the upper channel and daily resistance at **$2.3358**.
**Trade Consideration**: Look for confirmation in either direction before entering, with volume and momentum indicators as additional guidance.
SUIUSDT: Restesting ATH Support—Bull Run Resuming Soon!BINANCE:SUIUSDT is currently retesting its all-time high support and is poised to resume its bull run from here. After a healthy consolidation following the ATH breakout, it’s time for take-off! As a strong layer 1 blockchain with a robust community backing it, I’m expecting new ATHs in the near future. Keep an eye on this one!
BINANCE:SUIUSDT Currently trading at $2.14
Buy level: Above $2.1
Stop loss: Below $1.69
TP1: $3
TP2: $4.5
TP3: $6
TP4: $7
Max Leverage 3x
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Example of conditions for Chase the Rally
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(SUIUSDT.P 1D chart)
It is necessary to check whether it can fall from the 2.2492 point and rise with support near the HA-High indicator (2.0299) on the 1D chart.
Since the StochRSI indicator has entered the oversold zone, it is showing a strong downward trend.
Therefore, it is highly likely that it will continue to fall further, so caution is required when trading.
If it falls below 2.0299,
1st: 1.8735-1.9073
2nd: 1.6124
You need to check whether there is support near the 1st and 2nd above.
Therefore, from a short-term and medium-term perspective, if the price is maintained above 1.6124, it is a time for additional purchase.
In other words, I think it is a time when Chase the Rally is possible.
At this time, if the Mid (50) line or HA-Low indicator is created and shows support, it will give you strength to proceed with additional purchase.
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The important thing to proceed with Chase the Rally is that the long-term moving average line is in a regular array.
If not, it should be considered as a purchase, not Chase the Rally.
In this chart, the M-Signal line of the 1W and 1M charts corresponds to the medium- to long-term moving average line.
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(1h Chart)
If you touch the 5EMA of the 1D chart or the M-Signal of the 1D, 1W, 1D chart, there is a high possibility of volatility.
Therefore, you can start trading depending on whether there is support around here.
However, since the 5EMA of the 1D chart or the M-Signal of the 1D, 1W, 1D chart is for viewing trends, you should draw support and resistance points on the 1M, 1W, 1D charts and check whether there is support around those points and respond.
Since the current chart is a 1h chart, if there are no support and resistance points drawn on the 1M, 1W, 1D charts, you can start trading with the support and resistance points of the 1h chart.
However, a short and quick response is required.
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The StochRSI indicator is showing signs of forming a double top.
Therefore, if it falls below 2.088-2.0238, it is likely to touch around 1.8735-1.9073.
If the StochRSI indicator is reset while falling to the oversold zone, and the price maintains around the M-Signal line on the 1D chart, I think it is highly likely to turn upward.
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Reflecting this movement, it is expected that the trend will be formed depending on which direction it deviates from the box range (1.9752-2.0761) of the HA-Low indicator.
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Have a good time.
Thank you.
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- Big picture
It is expected that a full-scale uptrend will begin when it rises above 29K.
The next expected range to touch is 81K-95K.
#BTCUSD 12M
1st: 44234.54
2nd: 61383.23
3rd: 89126.41
101875.70-106275.10 (overshooting)
4th: 134018.28
151166.97-157451.83 (overshooting)
5th: 178910.15
These are points that are likely to receive resistance in the future.
We need to check if these points can be broken upward.
We need to check the movement when this range is touched because it is thought that a new trend can be created in the overshooting range.
#BTCUSD 1M
If the major uptrend continues until 2025, it is expected to start forming a pull back pattern after rising to around 57014.33.
1st: 43833.05
2nd: 32992.55
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SUI Price Holds Strong Above $2, Eyeing $3The price of CRYPTOCAP:SUI is holding firm above $2, fueling speculation that the altcoin might be gearing up for a significant rally. With growing market confidence and increasing attention from smart money, CRYPTOCAP:SUI could be primed for a breakout run towards $3, with the $2.45 mark serving as a crucial milestone.
Technical Overview
CRYPTOCAP:SUI has experienced a notable 3.71% price increase in the past 24 hours, pushing its market cap closer to $6 billion, currently standing at $5.81 billion. Trading volumes have surged to $928 million, reflecting the heightened market activity and growing interest in the altcoin. The price is now testing support at the $2 mark, an important psychological level, as traders wait to see if CRYPTOCAP:SUI will sustain its upward momentum.
At the time of writing, SUI is trading at $2.03 down 2.41%, bouncing back from the previous low of $1.9745. This bullish reversal increases the likelihood of a Morning Star pattern forming on the daily chart, signaling potential for continued upward movement.
In the 4-hour chart, CRYPTOCAP:SUI is trading within a rising channel pattern, with the price currently retesting the critical $2 support near the trendline. A bullish reversal within this channel suggests that CRYPTOCAP:SUI could soon challenge overhead resistance at $2.45, paving the way for a breakout towards $3.
Is a $3 Breakout Possible?
For SUI to achieve its price target of $3, it must first break through the overhead trendline resistance. Based on Fibonacci levels, the next major target lies at $3, corresponding to the 1.618 extension on the daily chart. This level could become achievable if CRYPTOCAP:SUI clears the $2.45 resistance.
Three days ago, CRYPTOCAP:SUI hit a new all-time high of $2.36, but recent market FUD surrounding a rumored $400 million insider sell-off caused a minor retracement. However, SUI’s foundation has denied these claims, and the market is now regaining confidence in the altcoin.
A key indicator of this renewed optimism is SUI's Funding Rate, which briefly entered negative territory during the FUD, signaling bearish sentiment. However, the Funding Rate has since turned positive, showing that traders are once again taking long positions and betting on a price rebound.
The Balance of Power (BoP) indicator also supports this bullish outlook, as the BoP has shifted in favor of buyers, suggesting that bulls are beginning to outpace bears. As a result, SUI’s price could soon rise above $2.11, setting the stage for a potential new all-time high.
SUI Price Prediction
With SUI holding strong support at $2.05, a renewed push towards $2.36 is likely in the near term. If SUI can break this resistance, a further rally towards $2.55 and beyond could occur, representing a 20% increase from current levels.
However, if bearish sentiment reemerges and sellers take control, SUI may retrace back to $2.05. A break below this level could see the price decline to $1.84, negating the current bullish setup.
Conclusion
CRYPTOCAP:SUI is showing strong technical and fundamental signs of a potential rally, with a $3 price target within reach if current trends continue. While the altcoin is currently benefiting from renewed market confidence, traders should watch key levels like $2.45 and $2.36 closely, as a breakout could signal the start of a major upward move.
SUI: Moving Above/Below Resistance/SupportRemember those bullish charts I show you? A support level is challenged and breaks down. There is some action below support and then immediately we see a recovery. When the action moves back above support, this is super bullish.
Here we have the same scenario but in reverse.
SUIUSDT challenged and conquered the March 2024 resistance line. It moved above resistance but quickly moved back below it. When the action moves back below resistance, this is super bearish. So we are left we are bearish chart.
The resistance on this chart is marked with a purple line.
Trading volume works as confirmation for this bearish signal as well as marketwide action.
Thank you for reading.
Namaste.
SUIUSDT Trading Setup: Order Block Retest with Bullish ContinuatWe’ve identified a compelling trade setup on BINANCE:SUIUSDT , showing potential for bullish continuation. After establishing a solid order block around 0.7700, price action suggests an upcoming retest of this zone, which could be followed by a strong upward move.
Key Levels & Strategy:
Entry Point: The recommended entry lies around 0.7700, a critical order block (OB) zone where demand has previously stepped in. The price has tested this level before, and another successful retest could lead to a bounce upward.
Stop Loss: Risk management is crucial to protect your position:
High Leverage Traders: Consider placing your stop loss at 0.7606, just below the OB, to safeguard against potential volatility.
Low Leverage Traders: Opt for a safer stop loss at 0.7406, allowing more breathing room for the trade to play out.
Take Profits: Scale-out profits at the following levels:
TP1: 0.8088, a minor resistance area where traders could lock in initial profits.
TP2: 0.8360, an intermediate target where previous liquidity zones reside.
TP3: 0.9642, a higher target where bulls could aim if momentum sustains.
Market Sentiment:
The price action is currently forming higher lows, indicative of underlying bullish strength. Additionally, the potential order block retest around 0.7700 gives us a clear entry point, supported by the upward momentum that could push price towards the upper resistance targets. This setup aligns well with the broader market trend, where buyers seem to be taking control after periods of consolidation.
Will $SUI be the next Solana?Amid allegations that “SUI insiders have sold $400M in tokens during this market surge, ” the SUI Foundation responds to address the claims.
The SUI Foundation dispels unfounded FUD, as major centralized exchanges continue to lean heavily on the sell side.
SUI continues to make headway. It has hit a new ATH in Total Value Locked (TVL).
It now processes more transactions than all other EVM-compatible chains.
Will SUI be the next SOLANA?
TECHNICAL OUTLOOK:
It has hit a new ATH, however we're now seeing selling pressure.
SUI significant is at $1.70; in confluence with HVN, nPOC, and 4H demand zone. A break of this level could see a move to around $1.30 (yVWAP) , taking out those resting liquidity on the lows.
#SUI LONG IDEA - POSSIBLE SWING LONG#SUI is the one of the best coin that has bullish momentum currently.
I will be watching to marked 'Long Zone' for possible swing position.
LTF confirmation will be needed in order to open position.
Risk assests are doing good recently but we have still geopolitical risks currently.
Nothing i share is financial advice. Education purposes only.
#Altcoins #Crypto #altcoin #AltSeason2024 #SUI #SUINETWORK
$SUI on the Rise: Multi-Month Trend Active, Targeting $20!Not counting on a full retracement for this move. It might just continue to rise, similar to how CRYPTOCAP:SOL did when it broke above the $30 mark. However, if by any chance it does retrace, one should consider buying anything below the $1.60 level.
I still believe it will go higher and enter a multi-month run closer to the $10 area.
The strength and reaction it just had are similar to CRYPTOCAP:PEPE 's before the massive run in February. Sure, there are different narratives and a significant difference in the timeframe, but it's worth keeping in mind for reference.
If we don’t go any lower—which is the most favorable case—I think the weekly block forming as a bearish candle should be used as an entry level and added to once it breaks above.
So, two scenarios: buying the low or reclaiming the candle’s low if it turns out to be a bearish candle on the weekly timeframe.
Miraculously wait for a retrace into the $1.60 area and buy.
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Bi-monthly Mode Active CRYPTOCAP:SUI
SUIUSDT trading opportunitySUIUSDT recently made a strong bounce towards a key demand zone, forming a potential bullish flag. We're monitoring for a decisive move at this critical level; a breakout above could trigger significant volatility toward the neckline area. Conversely, a drop from this level may drive the price toward a strong accumulation zone. Share your views on SUI in the comments.
