Alikze »» SUI | Descending channel   - 4H
2024-11-05

🔍 Technical analysis:  Descending channel   - 4H 

- It is moving in a descending channel in the 4-hour time frame.

- Currently, the supply area is facing sales pressure.

- According to the correction structure in the 4-hour time frame, if there is no ability and stabilization above the number 1.95, the correction will continue until the area of ​​1.56.

- The 1.56 range can have short-term targets of 1.66 and 1.75 if it meets demand.

- In addition, in case of selling pressure in the range of 1.75, the correction will extend to the green box.

💹  Support zones in the case of extension of the correction log: 1.30 - 1.23 - 1.13 

💎Alternative scenario, if it can consolidate above 1.95, could have short-term targets of 2.14 and 2.34.
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  BINANCE:SUIUSDT  
  
