SUIUSDC_CF9946.USD trade ideas
SUIUSD to start uptrend!Volume started climbing on SUIUSD when it increased in price and volume went down as we had the last drops. So volume is supporting an uptrend as of now and the recent corrections can be seen as shakeouts.
Now letโs see if we can find clues that underline this idea. On 2 hour time frame we can see an inversed head and shoulders pattern building. We just finished building the right shoulder and if this analysis is correct, price of SUIUSD should only climb from here at around $0.633 to a minimum of $0.68 and then reassess. Probably it will then form a higher low that is higher than current prices and continue increasing. Iโll have my stoploss around $0.59, if we stay around that price or lower for some time.
Recently I got an entry just under $0.62.
For me itโs not a scalp but a long term entry that I want to find. If market gives lower prices Iโll take them at certain points, that I need to analyse later, if it drops from here. Right now I see more bullish indication as just described.
SUIUSD Above the 1day MA50. Strong Buy.SUIUSD crossed above its 1day MA50 for the first time in its short history.
That is a strong technical bullish breakout signal.
Buy and target the 0.382 Fibonacci level at 0.95500, which is also near a potential Channel Up pattern that may emerge.
The 1day RSI is under 60.00, indicating that this move has significant upside ahead.
Further buying can be performed only after a 1day candle closes over the 0.5 Fibonacci, in which case you can target the 0.618 Fibonacci at 1.23450.
Follow us, like the idea and leave a comment below!!
#SUI nice move to upper Bollinger band incoming...quite possible IMHO
Nice structure of a higher low to set in place a positive move
I like how the Bands are going sideways ... volatility could be inbound.
New blockchains need to be far better than #Ethereum for users to migrate over
#ETH does around 20-24 tps
#Arbritrum does 120 tps and is 10X cheaper
SUI has peaked at 1400
SUIUSD has bottomed and is on a bullish reversal.SUIUSD has made a Double Bottom at 1.01500 last week, broke above the 4H MA50 (blue trend-line) and is testing its first major Resistance at 1.24500. We will buy if it closes a 4H candle above it and target Resistance 2. Similarly, extend buying if it closes above Resistance 2, aiming at a complete gap fill on Resistance 2 (1.68000).
-------------------------------------------------------------------------------
** Please LIKE ๐, FOLLOW โ
, SHARE ๐ and COMMENT โ if you enjoy this idea! Also share your ideas and charts in the comments section below! **
-------------------------------------------------------------------------------
๐ธ๐ธ๐ธ๐ธ๐ธ๐ธ
๐ ๐ ๐ ๐ ๐ ๐