#SUIUSDT 1 DAY
2024-12-15
Category: None

SUIUSDT Daily Analysis

The SUIUSDT pair is forming a rising wedge pattern on the daily chart, which often indicates a potential bearish reversal. The price is approaching the wedge's support line, and a breakdown below this level would signal increased selling pressure, offering a strong sell opportunity.  

Technical Outlook:
Pattern: Rising Wedge  
Forecast: Bearish (More Sell Opportunity upon Support Breakdown)  
Entry Strategy: Enter a sell position after the price breaks below the wedge's support line and confirms the breakdown with bearish price action, such as a strong close below the support or a retest of the broken level.  

Traders should use indicators like RSI or MACD for confirmation of weakening bullish momentum. Proper risk management is critical, with stop-loss orders placed above the wedge and profit targets set at key support zones below.