$SUI

May 2, 2025 SUI/U Market Analysis

For reference only, not investment advice

One chart to understand: SUI bulls interrupted by a 'halved' impact

SUI's recent trend is very 'realistic': just broke the ascending wedge channel and immediately plummeted, the bullish belief was just established and then shattered.

Core information of the chart (1-hour candlestick chart)

• Current price: 3.4454 U

• Entry price: 3.4567 U

• Profit target: 3.3090 U

• Stop loss setting: 3.5254 U

• Risk-reward ratio: 2.15 (worth betting, but strict risk control is needed)

Structural analysis (bearish)

1. Ascending support completely broken:

• The yellow ascending trend line was pierced by a strong bearish candle, currently continuing downwards;

• The candlestick is moving in a 'free fall' pattern, with no signs of stopping the decline.

2. Technical pattern: head and shoulders structure emerging

• Left shoulder, head, and right shoulder are basically formed, and the right shoulder did not create a new high;

• The rebound after breaking the 'neckline' was unsuccessful, the bulls have lost control.

3. Support reference points:

• 3.39: previous consolidation platform;

• 3.309: current profit target, if broken, could reach the 3.20 area.

Trading suggestions

For those who have opened short positions:

• Take profit settings are reasonable, continue to hold;

• It is recommended to track whether the candlestick recovers above 3.46, if it recovers, then close positions to avoid risks.

For those looking to enter (cautious shorting):

• Currently, it is not recommended to chase shorts, waiting for a rebound between 3.48 to 3.50 to short is more prudent;

• If the rebound does not go up, the likelihood of entering short positions again is higher, set stop loss above 3.53.

In a nutshell

Bears currently have an 'overwhelming advantage', unless it stands back above 3.50, the bulls have no power to fight back.