SUI just printed a powerful +12.95% daily move, bouncing cleanly from the mid-range of its long-term ascending channel. This structure has been respected since mid-2023, guiding both impulse legs and corrective phases with precision.
Now trading around $3.47, the next logical magnet is the channel top near $5, especially if momentum persists and market sentiment remains risk-on.
Technical Structure:
Bullish trend within a well-defined ascending channel
Clean reaction from dynamic support (midline)
Clear higher low + breakout structure in play
Upside Target:
$5 (channel resistance)
As long as SUI holds above the rising midline (~$2.80 area), this setup remains valid for trend continuation toward the upper range.
📌 Risk Management:
Break below the midline flips the bias short-term. Until then, trend = friend.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.