SUI has confirmed a bullish market construction shift after breaking to a brand new swing excessive from the $2.22 area. Following an aggressive rally, price is now consolidating at a robust help confluence, an indication that the uptrend stays intact and could also be gearing up for one other leg higher.
SUI’s (SUI) price motion has demonstrated sturdy bullish momentum after reclaiming high-timeframe help at $2.22. The breakout was backed by an aggressive rally that reclaimed the worth space low and surged by the purpose of management with energy. Now, price is pulling again, not as an indication of weak point, however somewhat a bullish correction right into a multi-factor help zone.
Key technical factors
- Break of Market Construction Confirmed: A brand new swing excessive has been fashioned, flipping market construction to bullish.
- Sturdy Help Confluence Under: The present correction has landed on the POC, an lively bullish order block, a BOS/SR flip, and the 0.618 Fibonacci retracement.
- Wholesome Higher Low in Play: Holding this zone confirms pattern continuity and units the stage for higher targets.
- Next Key Resistance at $3.49: A break above this degree will verify continued bullish momentum towards new native highs.
After rallying from the $2.22 area, SUI posted a decisive swing excessive, confirming a market construction break. This breakout was technically important, as it was accompanied by aggressive price motion that sliced by main resistance ranges with ease. The reclaim of the worth space low adopted by a clear transfer by the purpose of management suggests sturdy demand and pattern conviction.
The present pullback is now retracing into a robust help cluster. This consists of:
- The purpose of management
- A bullish order block
- A BOS/SR flip
- And the 0.618 Fibonacci retracement
This makes it a high-confluence demand zone and a logical place for price to type a higher low — which might hold the bullish construction absolutely intact.
As lengthy as this zone holds, SUI is structurally poised for a transfer towards the $3.49 resistance, the next key degree within the native pattern. A break of this area may set off a brand new wave of shopping for and set up the asset for higher highs.
What to anticipate within the coming price motion
SUI stays in a bullish construction following its current breakout. If the present help confluence zone holds, the next leg higher may goal the $3.49 degree and probably past. Nonetheless, failure to defend this zone would invalidate the higher low and introduce deeper correction targets. Till then, the bias stays bullish.
