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.
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💬 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
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⚡ Unlock the power of technical analysis!
🔹 Sharing high-probability trade setups
⚡ Unlock the power of technical analysis!
כתב ויתור
המידע והפרסומים אינם מיועדים להיות, ואינם מהווים, ייעוץ או המלצה פיננסית, השקעתית, מסחרית או מכל סוג אחר המסופקת או מאושרת על ידי TradingView. קרא עוד ב־תנאי השימוש.
🏆 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!
כתב ויתור
המידע והפרסומים אינם מיועדים להיות, ואינם מהווים, ייעוץ או המלצה פיננסית, השקעתית, מסחרית או מכל סוג אחר המסופקת או מאושרת על ידי TradingView. קרא עוד ב־תנאי השימוש.