#SUI
The price is moving within a descending channel on the hourly timeframe. It has reached the lower boundary and is heading towards a breakout.
The Relative Strength Index (RSI) indicates a downward trend, and this trend is likely to continue due to the overbought condition.
There is a key resistance zone (in green) at 0.9680, which the price has bounced off several times, making it a strong support level.
A consolidation trend is observed above the 100-period moving average, which we are approaching. This trend supports a decline towards this level.
Entry Price: 0.9292
Target 1: 0.8980
Target 2: 0.8722
Target 3: 0.8370
Stop Loss: At the resistance zone (in green).
Remember this simple rule: Manage your money wisely.
For any questions, please leave a comment.
Thank you.
The price is moving within a descending channel on the hourly timeframe. It has reached the lower boundary and is heading towards a breakout.
The Relative Strength Index (RSI) indicates a downward trend, and this trend is likely to continue due to the overbought condition.
There is a key resistance zone (in green) at 0.9680, which the price has bounced off several times, making it a strong support level.
A consolidation trend is observed above the 100-period moving average, which we are approaching. This trend supports a decline towards this level.
Entry Price: 0.9292
Target 1: 0.8980
Target 2: 0.8722
Target 3: 0.8370
Stop Loss: At the resistance zone (in green).
Remember this simple rule: Manage your money wisely.
For any questions, please leave a comment.
Thank you.
Trade closed: target reached
#SUI Target 1: 0.8980 Reached
Target 2: 0.8722 Reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
🚨 For More Signals Join Telegram Channel ( Futures/Spot )
👉 t.me/CryptoSignalFuturesSpot
👉 t.me/CryptoSignalFuturesSpot
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.