SUI Market Analysis
From the candlestick view: On the daily level, the green bars have shortened, indicating that the downward momentum is diminishing, corresponding with the trading volume;
From the RSI (Relative Strength Index) perspective, the fast line is already below 20, suggesting that the market has nearly hit the bottom, entering a consolidation phase;
From the support level perspective, the market has reached near the support level and is starting to stabilize; the downward momentum is weakening;
On the 4H level, the market has already stabilized, showing a slight rebound, and we will see if the market can hold this position over the next 2 days.
In summary: The downward momentum is dissipating, and it has just reached near the support level, waiting for the daily level market to stabilize above the support line, and the market is about to face an upward trend.
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Opening Position: 1.5 Stop Loss: 1.4 Take Profit Level: 1.75-1.8
