SUIUSDTHello there,
*Mars Signals Team wishes you high profits*
This is a 4-hour-time frame analysis for SUIUSDT
On the top, there is R1 is the resistance area which mentions that the price was not able to rise at different points. And ultimately, S1 is our support area of this chart that obviously contains the support of price variously. As we see in the past, the price trend faced a noticeable rise up to higher amounts and by several rejections and disabilities in order to rise, it could not be supported anymore and continued its falling trend down to areas such as S1. There we had he fluctuation of price in a neutral channel between R1 and S1 and by the last touch at the resistance area, a negative Marubozu Candle was formed and made the price to be unsuccessful at rising again. Hence we have the price fluctuating in a neutral channel between R1 and S1 areas and we should wait for the price to leave this channel and then have a precise prediction via considering the signs and market situation. So we predict the price to receive some support at S1 and by providing us some rising signs, more increase would take place then. Or even by rising over R1 and giving us more fixation there, more rise would definitely happen at that time. Also when the price loses the support and falls below S1, more decline might happen to lower mounts. Please do not forget to wait for some signs such as confirmation candles in order to make sure of what will be your next movement and then act wisely. Our suggestion is to put your stop-loss point based on your amount of loss that you can risk at and try to experience more logical trades.
Warning: This is just a suggestion and we do not guarantee profits. We advise you to analyze the chart before opening any positions.
Wish you success