Currently observing SUN/USDT on the 4-hour timeframe with Heikin Ashi candles:
1️⃣ Price Action & Trend
The price remains below the 200-period SMA, currently acting as a dynamic resistance at approximately 0.01677 USDT.
Clear short-term bearish trend structure, with lower highs visible since the recent spike.
The recent price action indicates consolidation, but bearish momentum persists.
2️⃣ Key Levels:
Resistance: Immediate resistance around the 200 SMA (0.01677). Any break above this line could trigger bullish momentum.
Support: Local support established near 0.01615. A breach below could signal further bearish continuation towards 0.01550.
3️⃣ Indicators:
MACD (Ultimate MTF) shows negative momentum with MACD lines below the zero-line, indicating ongoing bearish sentiment.
Histogram bars remain negative, underscoring the bears' control over the current market condition.
📌 Trading Idea:
Short Scenario: If the price rejects clearly from the 200 SMA, consider short positions targeting 0.01615 and potentially 0.01550.
Long Scenario: Wait for a confirmed breakout and retest above the 200 SMA (0.01677) for bullish confirmations, targeting upwards towards 0.01750 initially.
⚠️ Recommendation: Maintain tight stop-losses around key levels, especially given the potential for volatility in the current consolidation phase.
👉 Conclusion: Currently leaning bearish with cautious optimism if resistance at the 200 SMA is overcome. Monitor closely for decisive price action to determine direction.
💬 Let me know your thoughts below! Like & follow for more updates! 🚀📈
1️⃣ Price Action & Trend
The price remains below the 200-period SMA, currently acting as a dynamic resistance at approximately 0.01677 USDT.
Clear short-term bearish trend structure, with lower highs visible since the recent spike.
The recent price action indicates consolidation, but bearish momentum persists.
2️⃣ Key Levels:
Resistance: Immediate resistance around the 200 SMA (0.01677). Any break above this line could trigger bullish momentum.
Support: Local support established near 0.01615. A breach below could signal further bearish continuation towards 0.01550.
3️⃣ Indicators:
MACD (Ultimate MTF) shows negative momentum with MACD lines below the zero-line, indicating ongoing bearish sentiment.
Histogram bars remain negative, underscoring the bears' control over the current market condition.
📌 Trading Idea:
Short Scenario: If the price rejects clearly from the 200 SMA, consider short positions targeting 0.01615 and potentially 0.01550.
Long Scenario: Wait for a confirmed breakout and retest above the 200 SMA (0.01677) for bullish confirmations, targeting upwards towards 0.01750 initially.
⚠️ Recommendation: Maintain tight stop-losses around key levels, especially given the potential for volatility in the current consolidation phase.
👉 Conclusion: Currently leaning bearish with cautious optimism if resistance at the 200 SMA is overcome. Monitor closely for decisive price action to determine direction.
💬 Let me know your thoughts below! Like & follow for more updates! 🚀📈
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.