This article provides an analysis of cryptocurrency prices for ETC, SUI, and XLM. It discusses current support levels, potential entry points, and exit strategies.
ETC: Current Situation and Short-Term Strategies
ETC's price has formed a descending channel, with recent price action pulling back after hitting the upper channel boundary. The resistance level aligns approximately with the Fibonacci 0.382 level. Additionally, the price failed to break above the June 17 high of $17.18, reaching only $17.16. As of writing, the price is at $16.6, roughly at the Fibonacci 0.5 level. Investors may consider entering short positions at prices between $16.5 and $17, which are favorable entry points. Take-profit levels can be set at $14.5, $14, and $13.6 in stages. Stop-loss levels, depending on individual risk tolerance, can be set between $17.2 and $17.6.
SUI: Support and Resistance Analysis
SUI's price recently broke below a descending channel but found support near $2.3, leading to a rebound. However, the price faced resistance multiple times around $2.89, failing to reach the channel’s midpoint. Despite breaking previous highs during the recovery, the gains were limited, and declining trading volume indicates weak buying pressure, maintaining a bearish outlook. As of writing, the price is at $2.78. Investors can enter short positions at the current market price or wait for a pullback to around $3, which aligns with the midpoint of a larger trading range, a relatively strong resistance. Take-profit levels can be set at $2.3, $2.05, and $1.75 in stages. The stop-loss can be placed at $3.16, slightly above the previous high of $3.1589.
XLM: Trends and Trading Levels
Since reaching a high of $0.636 on November 24, 2024, XLM’s price has been declining, forming a descending channel for over six months. Recently, the price formed a rounded top and broke below a support zone, finding support near $0.164 before rebounding. The price rallied to $0.2497 but faced resistance again and fell, slightly below the Fibonacci 0.5 level. As of writing, the price is at $0.239. Investors can enter short positions at the current market price or between $0.238 and $0.243, both of which are favorable entry points. Take-profit levels can be set at $0.217, $0.2, and $0.1885 in stages. Stop-loss levels, based on individual risk tolerance, can be set slightly above $0.25 or $0.255.
The price analysis of ETC, SUI, and XLM shows interesting short-term strategies for investors. Key levels of support and resistance will assist in making decisions regarding short-term positions in these cryptocurrencies.
