In my previous post about 
SUIUSDT, I mentioned a potential falling wedge pattern. However, the breakout above the 4.0040 resistance turned out to be a false breakout, and the price eventually dropped to the invalidation level at 3.5868. This made the setup invalid.
But despite the failed wedge breakout,SUIUSDT remains in a bullish trend overall. During the current consolidation, the price appears to be forming a new bullish pattern — a Descending Broadening Wedge (DBW).
This pattern typically starts with low volatility and gradually widens. Once price reaches its lower boundary, it often experiences a strong breakout to the upside.
Let’s break down the key price action in this DBW setup:
Based on these five price action signals, it seems that buyers are still in control, even though short-term volatility has created a series of lower lows.
That’s why I still believeSUIUSDT has more room to go up. What’s your take on this?
SUIUSDT, I mentioned a potential falling wedge pattern. However, the breakout above the 4.0040 resistance turned out to be a false breakout, and the price eventually dropped to the invalidation level at 3.5868. This made the setup invalid.But despite the failed wedge breakout,
SUIUSDT remains in a bullish trend overall. During the current consolidation, the price appears to be forming a new bullish pattern — a Descending Broadening Wedge (DBW).This pattern typically starts with low volatility and gradually widens. Once price reaches its lower boundary, it often experiences a strong breakout to the upside.
Let’s break down the key price action in this DBW setup:
- Price is moving within a Descending Broadening Wedge and is currently near the lower boundary of the pattern.
- It’s also sitting around a key support level at 3.4833.
- A rejection candle formed right at 3.4833, showing the market’s response to this support area.
- A reversal confirmation would come if the price breaks above 3.6102.
- A bullish divergence is also visible — price is forming lower lows, while the stochastic indicator is forming higher lows.
Based on these five price action signals, it seems that buyers are still in control, even though short-term volatility has created a series of lower lows.
That’s why I still believe
SUIUSDT has more room to go up. What’s your take on this?Trade active
After waiting a couple of hours to see how the price would react around the support area, SUIUSDT is now retesting its support zone at 3.4833 – 3.4050 (recently adjusted support range).The price action around this area is quite interesting — the downside momentum has started to slow down, there's a clear rejection near support, and an inside bar candlestick pattern has formed.
A breakout above 3.5168 could serve as a confirmation of a potential price reversal and a valid entry point, with a stop-loss below 3.4050 and upside targets remaining at 4.7996 and 5.0552.
Here's my updated chart
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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.