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 assist 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 assist at $2.22. The breakout was backed by an aggressive rally that reclaimed the worth space low and surged by way of the purpose of management with power. Now, price is pulling again, not as an indication of weak point, however slightly a bullish correction right into a multi-factor assist zone.
Key technical factors
- Break of Market Construction Confirmed: A brand new swing excessive has been shaped, flipping market construction to bullish.
- Sturdy Assist Confluence Under: The present correction has landed on the POC, an energetic bullish order block, a BOS/SR flip, and the 0.618 Fibonacci retracement.
- Wholesome Higher Low in Play: Holding this zone confirms development 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 way of main resistance ranges with ease. The reclaim of the worth space low adopted by a clear transfer by way of the purpose of management suggests sturdy demand and development conviction.
The present pullback is now retracing into a robust assist cluster. This contains:
- 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 maintain the bullish construction totally 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 development. 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 assist confluence zone holds, the next leg higher may goal the $3.49 degree and doubtlessly past. Nevertheless, failure to defend this zone would invalidate the higher low and introduce deeper correction targets. Till then, the bias stays bullish.
