Since completing its 5-wave impulse on July 28, SUI has been in a corrective phase for the past two months. The structure remains clean, with invalidation zones well-defined.
Looking ahead, there’s potential for an ascending triangle formation but for that to play out, it’s crucial that SUI holds the $3 psychological level.
Support Zone ($3.11–$2.93)
📌 This is the last key support zone for bullish momentum. Losing it would break structure, holding it keeps the bullish case alive.
Resistance Zone ($4.12–$4.59)
This area is loaded with resistance confluence and will act as the major target zone for longs.
🟢 Long Setup
This is a make-or-break zone for SUI. The $3 level is stacked with support confluences and must hold to keep the bullish structure intact. If bulls reclaim the yearly open at $4.122, momentum could carry toward $4.6.
🔍 Indicators used
➡️ Available for free. You can find it on my profile under “Scripts” and apply it directly to your charts for extra confluence when planning your trades.
_________________________________
💬 If you found this helpful, drop a like and comment!
Looking ahead, there’s potential for an ascending triangle formation but for that to play out, it’s crucial that SUI holds the $3 psychological level.
Support Zone ($3.11–$2.93)
- 0.618 Fib retracement: $3.115
- 0.702 Fib retracement: $2.934
- 60 Weekly EMA $2.93 / SMA $3.036
- Potential ascending triangle lower support line
📌 This is the last key support zone for bullish momentum. Losing it would break structure, holding it keeps the bullish case alive.
Resistance Zone ($4.12–$4.59)
- Yearly Open (yOpen): $4.122 → key level bulls must reclaim
- Swing Highs: $4–$4.5
- 0.786 Fib retracement: $4.59
- 15B Market Cap: $4.2
This area is loaded with resistance confluence and will act as the major target zone for longs.
🟢 Long Setup
- Entry Zone: Between current price and $2.9 → ladder down into support
- Stop-Loss: Below 0.702 Fib retracement
- Take Profits: TP1 → $3.49, TP2 → $3.89, TP3 → $4.12 (yOpen)
- R:R: ~1:4+
- Potential Gain: +35%
This is a make-or-break zone for SUI. The $3 level is stacked with support confluences and must hold to keep the bullish structure intact. If bulls reclaim the yearly open at $4.122, momentum could carry toward $4.6.
🔍 Indicators used
- DriftLine — Pivot Open Zones [SiDec] → For identifying key yearly/monthly/weekly/daily opens that act as major S/R reference points
- Multi Timeframe 8x MA Support Resistance Zones [SiDec] → to identify support and resistance zones such as the weekly 60 EMA/SMA.
- Fair Value Trend Model [SiDec] → Calculates a regression-based fair value curve
➡️ Available for free. You can find it on my profile under “Scripts” and apply it directly to your charts for extra confluence when planning your trades.
_________________________________
💬 If you found this helpful, drop a like and comment!
🏆 Mastering Fibonacci for precision trading
🔹 Sharing high-probability trade setups
⚡ Unlock the power of technical analysis!
🔹 Sharing high-probability trade setups
⚡ Unlock the power of technical analysis!
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.
🏆 Mastering Fibonacci for precision trading
🔹 Sharing high-probability trade setups
⚡ Unlock the power of technical analysis!
🔹 Sharing high-probability trade setups
⚡ Unlock the power of technical analysis!
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.