Technical Analysis:
SUI shows a bearish trend in the short term, with RSI-14 at 42.15 indicating neutral to slightly oversold conditions. The MACD line (-0.21) is below the signal line (-0.25), suggesting downward momentum.
Price Levels:
- Fibonacci Support Levels: S1: $2.98, S2: $2.77
- Fibonacci Resistance Levels: R1: $3.64, R2: $3.85
- Current price ($3.26) is testing the Fibonacci pivot point of $3.31
News Impact:
Recent analysis from VanEck projects SUI to reach $16 by the end of 2025, suggesting significant long-term upside potential. However, short-term technical indicators point to continued weakness.
Price Prediction for Next Week:
Based on technical analysis and current market conditions:
- Target Price Range: $2.98 - $3.15
- Most Likely Scenario: Further downside to test S1 support at $2.98
- Key Resistance: $3.64 (R1)
Trading Recommendation: SELL
- Entry Point: Current market price ($3.26)
- Stop Loss: $3.45 (above recent high)
- Take Profit: $2.98 (S1 support level)
Rationale:
- Bearish MACD crossover
- Price trading below 5-day SMA ($3.40)
- Weakening momentum indicated by RSI
- Bollinger Band Position (BBP) at 0.42 shows downward pressure
Technical Analysis:
SUI shows a bearish trend in the short term, with RSI-14 at 42.15 indicating neutral to slightly oversold conditions. The MACD line (-0.21) is below the signal line (-0.25), suggesting downward momentum.
Price Levels:
- Fibonacci Support Levels: S1: $2.98, S2: $2.77
- Fibonacci Resistance Levels: R1: $3.64, R2: $3.85
- Current price ($3.26) is testing the Fibonacci pivot point of $3.31
News Impact:
Recent analysis from VanEck projects SUI to reach $16 by the end of 2025, suggesting significant long-term upside potential. However, short-term technical indicators point to continued weakness.
Price Prediction for Next Week:
Based on technical analysis and current market conditions:
- Target Price Range: $2.98 - $3.15
- Most Likely Scenario: Further downside to test S1 support at $2.98
- Key Resistance: $3.64 (R1)
Trading Recommendation: SELL
- Entry Point: Current market price ($3.26)
- Stop Loss: $3.45 (above recent high)
- Take Profit: $2.98 (S1 support level)
Rationale:
- Bearish MACD crossover
- Price trading below 5-day SMA ($3.40)
- Weakening momentum indicated by RSI
- Bollinger Band Position (BBP) at 0.42 shows downward pressure