$SUI Daily Chart Analysis

SUI Daily Chart Analysis

Price is currently trading inside a Rising Wedge pattern on the 1D timeframe — a structure that often signals potential trend exhaustion if broken to the downside, but can still extend higher within the channel before a breakout.

🔹Support: The lower wedge trendline has acted as a strong demand zone since April, with each test triggering a bounce.

🔸Resistance: The upper wedge trendline has repeatedly capped rallies near the $4.20–$4.40 zone.

🔹Current Price Action: #SUI Trading around $3.81, mid-range of the wedge, showing balanced buyer–seller pressure.

🔸Momentum: Higher lows are still intact, suggesting bullish structure until the lower wedge breaks.

POSSIBLE SCENARIOS
1️⃣ Bullish: Price pushes toward the $4.20–$4.40 resistance; a breakout above could target the $5+ zone.
2️⃣ Bearish: A breakdown below the lower wedge support (~$3.00) could trigger a deeper pullback toward $2.60–$2.40.

Watch for decisive daily candle closes near wedge boundaries — that will dictate the next major leg.