This article provides a current analysis and forecasts for three popular cryptocurrencies: SOL, SUI, and DOGE. We will examine their market dynamics and potential entry and exit levels.
Analysis of SOL
Recently, the price of SOL broke through a descending trendline and began to pull back, but it has yet to gain significant upward momentum. On April 7, the price reflected strong buying pressure: it dropped 9% intraday but surged sharply with increased trading volume, closing with a modest 1% gain. This movement may have formed a head and shoulders bottom pattern (shown in white on the chart). The price may gradually decline to the Fibonacci 0.382-0.5 retracement levels (between $115 and $122) before resuming its upward trend. If the right shoulder also shows a price increase accompanied by rising volume, it could almost certainly confirm an impending trend reversal.
Analysis of SUI
SUI has been underperforming recently. After multiple attempts to break its all-time high, the price has shown clear signs of weakness. Since January 5, the price has been steadily declining, gradually forming a rounding top (saucer top, indicated by the green curve on the chart). Recently, the price broke below the neckline (yellow line on the chart) and pulled back to around the Fibonacci 0.382 level before continuing to fall for four consecutive days. The expected bottom is approximately at the Fibonacci 1.618 level, which coincides with a previous support zone, enhancing the pattern's credibility.
Analysis of DOGE
Since forming a double top, DOGE has been on a consistent downward trend with no signs of bottoming out. Recently, it broke below a trendline that had been in place since August 2024. After the breakout, the price retraced to the Fibonacci 0.5 level (around $0.169) before dropping sharply. The target price is estimated at around $0.105, which lies between the Fibonacci 1.272 and 1.414 levels and coincides with the highest volume support zone. Similar to SUI, the alignment of these technical elements strengthens the analysis's reliability, indicating that DOGE is currently a suitable candidate for shorting.
In conclusion, the analysis of current trends suggests that SOL may show growth after a pullback, while SUI and DOGE are facing bearish trends. Investors should consider the specified levels for trading decisions.
