SUI/USDT Update – Bounce Setup from Demand Zone?

In the previous analysis, we highlighted a short opportunity near $4.20, which played out perfectly. Now, SUI has reached a key demand zone around $3.40–$3.55, overlapping with the lower boundary of the ascending channel and a previously defined bullish order block.

🔹 Market Structure:
After breaking the bullish structure, price is now revisiting a major liquidity zone between $3.40 and $3.55.

🔹 Price Behavior:
Wicks to the downside suggest buy-side absorption and potential for short-term reversal.

🔹 Possible Scenario:
If the $3.40 zone holds, we could see a corrective move up to the supply zone around $3.90–$4.00.

📌 Key Levels:
• Support: $3.40–$3.55
• Resistance: $3.90–$4.00

❗️If the $3.40 support fails, bullish momentum will likely be invalidated in the short term.

🧠 Pro Tip (SMC-based):
When a demand zone aligns with liquidity sweep and channel support, it often becomes a high-probability area for institutional re-entries. Wait for a clear confirmation like BOS or bullish engulfing candle before entering.

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