SUI is exhibiting a potential bullish setup on the 1-hour timeframe as price begins to build momentum after a period of consolidation.
📈 Current Setup:
Price has formed a minor ascending trendline and is trading above the short-term moving averages, indicating growing bullish strength.
A buy stop is placed slightly above the immediate resistance at 2.9222, which would confirm a breakout from the consolidation zone.
✅ Trade Plan:
Entry (Buy Stop): 2.9222
Stop Loss (SL): 2.8778 (below recent swing low support)
Take Profit (TP): 2.9507 (near previous resistance cluster)
📊 Momentum Indicators:
RSI is currently at 60.19, which supports the bullish bias but is not yet in overbought territory, leaving room for an upward move.
Earlier bearish divergence has been resolved as price found support, and a bullish signal has emerged, suggesting renewed upward momentum.
⚡ Bias: Moderately Bullish
Price needs to break and hold above 2.9222 to confirm continuation toward the target zone. Caution is warranted if price fails to sustain above the breakout level.
📈 Current Setup:
Price has formed a minor ascending trendline and is trading above the short-term moving averages, indicating growing bullish strength.
A buy stop is placed slightly above the immediate resistance at 2.9222, which would confirm a breakout from the consolidation zone.
✅ Trade Plan:
Entry (Buy Stop): 2.9222
Stop Loss (SL): 2.8778 (below recent swing low support)
Take Profit (TP): 2.9507 (near previous resistance cluster)
📊 Momentum Indicators:
RSI is currently at 60.19, which supports the bullish bias but is not yet in overbought territory, leaving room for an upward move.
Earlier bearish divergence has been resolved as price found support, and a bullish signal has emerged, suggesting renewed upward momentum.
⚡ Bias: Moderately Bullish
Price needs to break and hold above 2.9222 to confirm continuation toward the target zone. Caution is warranted if price fails to sustain above the breakout level.
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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.