💎Paradisers, #SUI is currently cruising within a descending channel, gathering momentum for a breakout.
💎Once it breaks out, we'll wait for a retest for confirmation before planning our trade. This retest phase often follows a breakout and provides an excellent opportunity to confirm bullish momentum. If #Sui holds support at $1.003 and continues its upward ascent, the next target lies in the resistance zone we've projected.
💎However, if #SUIUSDT struggles to maintain support and dips back into the channel, it could signal a weakening bullish trend. In this case, the price may fall further to the next significant support level at around $0.88.
💎Historically, SUI has shown resilience by rebounding decisively from this level. If this pattern holds, a strong bounce could occur. A decisive candle close below this support will challenge the bullish outlook, indicating a shift toward a more bearish trend.
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.