Technical analysis by Crypto_Ikigai about Symbol SUN on 3/29/2025

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! 🚀📈