Trend Shift:
SUI has broken the 1D downtrend and is now consolidating above a key supply/demand zone, suggesting accumulation.
Short-Term Range:
Expect ranging/chop as price tests acceptance above broken resistance. This phase could last up to a week.
Trigger for Next Move:
Sustained closes above $4.0 will signal buyers are in control, opening the way for a move higher.
Targets:
If the base holds and SUI establishes above resistance, the next push is toward $5.10–$5.40 (previous highs/ATH zone).
Invalidation:
A sustained move below $3.37 would invalidate the bullish base thesis and open the door for deeper retrace.
SUI has flipped its 1D trend and is now consolidating above a key S/D level. Historically, such consolidations above reclaimed resistance often precede strong trend continuation. While a short-term range is likely as the market digests recent gains, the structure favors an eventual push toward previous highs and potentially new ATHs in August. Patience during this ranging phase is key; the setup remains bullish unless price falls back below $3.37.
SUI has broken the 1D downtrend and is now consolidating above a key supply/demand zone, suggesting accumulation.
Short-Term Range:
Expect ranging/chop as price tests acceptance above broken resistance. This phase could last up to a week.
Trigger for Next Move:
Sustained closes above $4.0 will signal buyers are in control, opening the way for a move higher.
Targets:
If the base holds and SUI establishes above resistance, the next push is toward $5.10–$5.40 (previous highs/ATH zone).
Invalidation:
A sustained move below $3.37 would invalidate the bullish base thesis and open the door for deeper retrace.
SUI has flipped its 1D trend and is now consolidating above a key S/D level. Historically, such consolidations above reclaimed resistance often precede strong trend continuation. While a short-term range is likely as the market digests recent gains, the structure favors an eventual push toward previous highs and potentially new ATHs in August. Patience during this ranging phase is key; the setup remains bullish unless price falls back below $3.37.
Trade active
Building a position here is based on the reaction from a well-defined demand zone and an early sign of strength as price reclaims local resistance. The setup offers a favorable risk/reward, as invalidation is clearly defined below $3.50. If the trendline breaks and momentum picks up, targeting the equal highs and beyond becomes a high-probability play. This approach ensures discipline and minimizes downside risk.
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.
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.