Hello Traders,
The price of SUI-USDT has been locked in a consistent downtrend, marked by a series of lower highs and lower lows. However, the asset is now testing a critical support level that could determine whether we see a relief bounce or a continuation of the decline.
Key Highlights:
• Price is approaching $1.75, a major support zone with confluence from the Value Area Low (VAL), HTF support, and a possible Swing Failure Pattern (SFP).
• If this level holds, there’s potential for a relief rally up to $2.78 over the coming days.
• A break below $1.75 opens the door to a deeper pullback toward $0.57, the next significant support.
SUI is currently sitting at support, and while it’s possible to see short-term candle closes above this region, confirmation is still needed before any strong bullish bias can be adopted. This is a level where patience and discipline will pay off — entering prematurely could result in getting trapped in a deeper leg down.
Overall, the market structure remains bearish. Unless the pattern of lower highs and lower lows is broken, momentum will continue to favor the downside. Holding $1.75 is crucial for any chance at a rotation higher.
The price of SUI-USDT has been locked in a consistent downtrend, marked by a series of lower highs and lower lows. However, the asset is now testing a critical support level that could determine whether we see a relief bounce or a continuation of the decline.
Key Highlights:
• Price is approaching $1.75, a major support zone with confluence from the Value Area Low (VAL), HTF support, and a possible Swing Failure Pattern (SFP).
• If this level holds, there’s potential for a relief rally up to $2.78 over the coming days.
• A break below $1.75 opens the door to a deeper pullback toward $0.57, the next significant support.
SUI is currently sitting at support, and while it’s possible to see short-term candle closes above this region, confirmation is still needed before any strong bullish bias can be adopted. This is a level where patience and discipline will pay off — entering prematurely could result in getting trapped in a deeper leg down.
Overall, the market structure remains bearish. Unless the pattern of lower highs and lower lows is broken, momentum will continue to favor the downside. Holding $1.75 is crucial for any chance at a rotation higher.
Free Alpha Group t.me/freetradingden
Unlock up-to $8,000 USDT in bonuses, only at Blofin - Link Below to start Trading.
partner.blofin.com/d/alchemisttrader
Unlock up-to $8,000 USDT in bonuses, only at Blofin - Link Below to start Trading.
partner.blofin.com/d/alchemisttrader
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.
Free Alpha Group t.me/freetradingden
Unlock up-to $8,000 USDT in bonuses, only at Blofin - Link Below to start Trading.
partner.blofin.com/d/alchemisttrader
Unlock up-to $8,000 USDT in bonuses, only at Blofin - Link Below to start Trading.
partner.blofin.com/d/alchemisttrader
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.