š Technical Analysis $SUI is climbing off the 1.58ā1.60 demand cluster, hinting at bullish rotation despite the broader bearish structure š„. Momentum is stabilizing on LTFs while the daily chart shows sellers losing steam near the 1.30 macro support zone. A push toward 1.79 resistance is on deck if buyers maintain control, with further upside toward 1.95ā2.10 if volume steps in. Dropping below 1.53 would invalidate this long bias and reopen downside targets. {future}(SUIUSDT)
It indicates that a possible interest rate cut in December is largely priced in. This also points to the expectation of "buy the rumor, sell the news" scenario.
According to CME's "Fed Watch" data, the probability of a 25 basis point interest rate cut in December is seen at 86.2%. $BTC $BNB #BinanceBlockchainWeek
$BNB Does the drop deepen? Tough weeks for the crypto market #Binanceholdermmt I summarized the important factors related to the reasons for the decline seen in the crypto market, especially in major altcoins like BNB (BNB), below ā however, it is not possible to give a definite judgment regarding the question of whether the decline will continue; still, we can consider the risks and potentials together.
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š Main reasons for the decline
There are multiple reasons for the pullback in the crypto market: 1. Macroeconomic policy uncertainties ⢠The Federal Reserve (Fed)ās statements regarding interest rates are unsettling investors. The Fed has indicated that a new interest rate cut is not ācertainā in the short term. This situation leads to a strengthening of the dollar and an exit from risky assets. ⢠When the dollar strengthens, there is typically an outflow of money from āhigh-riskā assets like crypto. ⢠In addition, concerns about global growth, expectations that interest rates may remain high, and investorsā risk aversion are also influential. 2. Liquidations and profit realizations ⢠Significant liquidations have been observed in long positions in the crypto market: for example, approximately $300-400 million worth of long positions were closed in the last 24 hours. ⢠Especially in altcoins, the desire of investors to take profits after a short-term rise has accelerated. This is also increasing selling pressure. 3. Institutional capital outflow & trust issues ⢠Outflows are being experienced from spot crypto ETFs (especially Bitcoin-focused); this indicates that the appetite of large investors or institutional capital for crypto has decreased. ⢠Market sentiment is at āfearā or ācautiousā levels. Investors' mood is not strong, which may exacerbate the decline. 4. Technical and psychological levels / breaking of supports
Lessons have been the same for years, those who graduated long ago have already sunk.
McTominay
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Bearish
No one knows anything, it's just you and your capital, and no one cares. Those who gave coins to their coin basket thinking that 50X would increase 100X and believed this lost 50% of their capital. #Binance $BNB $SAGA $AVAX
If you buy Memecoin, others will become rich, not you. If you are already rich, you can add money to your money. Don't believe the big lies. $NOT $BONK $PEPE
1ļøā£You cannot eliminate the risk with any expert/strategy/indicator/analysis. 2ļøā£ Never lose big, 3ļøā£ Accept small losses with maturity. 4ļøā£ Take profit while feeling success. 5ļøā£ Have a game plan. 6ļøā£ Don't give up on implementing your game plan. 7ļøā£ Don't neglect your family 8ļøā£ Always study for your lessons, do not take lessons from othersš $ETH #BinanceHerYerde #EarnFreeCrypto2024
Support / Resistance Levels ⢠Around 4.30 USD is seen as a strong resistance level; bulls may struggle here. ⢠In a downward scenario, the 50-day EMA level around 3.49 USD may be tested. ⢠Critical support areas are being monitored at 3.81 USD and the 20-day EMA (approximately 3.37 USD).
Momentum and Technical Indicators ⢠The price is testing the 50-day EMA, and closes below this level may signal negativity. ⢠The contraction of the Bollinger Bands indicates a period of low volatility and may signal a possible breakout. ⢠Upcoming token unlocks could increase supply and create selling pressure. In particular, news about the unlocking of 44 million SUI raises this risk.
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š Fundamental / On-Chain Data & Risks ⢠The transaction volume and user interaction on the SUI network are increasing; this indicates that network usage is growing. ⢠However, the unlocking of token supply may increase selling pressure in the short term and pull the price down. ⢠Liquidity fluctuations and market sentiment also play an important role. $SUI #MarketRebound #StrategyBTCPurchase
Price and Trend ⢠SUI is currently trading at approximately 3.18 USD levels. ⢠Recently, SUI has entered a correction phase following a strong upward rally. ⢠If the price has managed to stay above the 50-day (or similar short-medium term) moving average, there is a possibility of maintaining upward momentum. ⢠Among technical resistances, the 4.30 USD level stands out; breaking this level could initiate a significant rally. ⢠In terms of support levels, the range of 2.10 ā 2.37 USD appears to be a critical horizontal support area. ⢠If this support zone is lost, there is a risk of the price pulling back to lower levels ā for example, 1.58 USD or 1.18 USD.
Factors to Consider ⢠Token unlock events: Recently, unlock events regarding SUIās token supply are planned; this type of supply pressure could have a downward effect on the price. ⢠Market sentiment and altcoin rotation: The overall atmosphere in the cryptocurrency market (Bitcoin direction, macro risks, liquidity) strongly affects altcoins, and the situation is no different for SUI. ⢠Technical formations & trend reversal signals: Structures such as rising channels, bottom/top reversals, support-resistance reversal zones should be monitored. Some comments discuss longer-term bottom reversals (like inverse bottoms). #PCEInflationWatch #BinanceHODLerFF #MarketPullback $SUI $ETH $ETH