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Suiusdt

CETUS dominanting the SUI spaceSUI is challenging for being apart of the big4 independent chains Behind Ethereum, Solana and Binance Smart Chain is now SUI in terms of 24hr dex volume. While Arbitrum is still stronger as a layer 2 for Eth it is not an independent chain like the others. This strength by SUI is interesting in and of itself but as CETUS is dominanting the SUI dex space volume wise.. it is also very interesting for CETUS CETUS has jumped up to top10 dApps {volume wise} CETUS' domination of the growing SUI space has now lead it to overtaking Lifinity, Balancer, Quickswap to name a few and challenging Curve to go from 7th biggest to 6th This puts CETUS in a very strong fundamental position that looks to be maintaining and it should technically catch up to its relative undervalued current market cap
Long
by SoftQuant
Title: SUI/USDT: Bearish Signals Emerge - Ending Diagonal PatterTitle: SUI/USDT: Bearish Signals Emerge - Ending Diagonal Pattern and MACD Divergence Overview: SUI/USDT is currently displaying clear bearish signals, suggesting a potential reversal in the near term. Two key factors contribute to this bearish outlook - the formation of an ending diagonal pattern and the emergence of a bearish divergence on the MACD indicator. Technical Analysis: Ending Diagonal Pattern: SUI/USDT is exhibiting the characteristics of an ending diagonal pattern, a reversal pattern typically signaling the end of an uptrend. The converging trendlines of the diagonal suggest diminishing buying interest, with a higher likelihood of a bearish reversal. MACD Bearish Divergence: The MACD indicator is showing a bearish divergence, where the price is making higher highs, but the MACD is making lower highs. This divergence implies a weakening bullish momentum, often preceding a potential trend reversal. Trade Setup: Cautious Approach: Given the bearish signals, a cautious stance is recommended for traders. Short Entry: Consider shorting SUI/USDT on a confirmed breakdown from the ending diagonal pattern or a breach of a key support level. Stop-Loss: Place a stop-loss above the recent swing high or a level that aligns with your risk tolerance. Take Profit: Identify potential support zones or Fibonacci retracement levels as profit-taking targets. Risk Management: Always employ proper risk management strategies, ensuring that potential losses are controlled and do not exceed predetermined levels. Stay informed about upcoming events or announcements that may impact SUI/USDT. Cautionary Notes: Keep a close eye on the price action and be prepared to adapt your strategy based on real-time market developments. Be aware of potential false signals and monitor confirmatory factors alongside the technical analysis. Conclusion: The combination of the ending diagonal pattern and the MACD bearish divergence on SUI/USDT suggests a potential shift in market sentiment. Exercise caution and wait for confirmation before considering any trading positions. Always conduct thorough analysis and maintain a disciplined approach to risk management.
BINANCE:SUIUSD
by outkla
2