The SUI daily price is oscillating between the upper and middle bands of the Bollinger Bands, and the MACD red bars are still increasing in volume. Currently, it seems that the bulls have no intention of backing down.
Recently, this candlestick pattern is quite dramatic—just had a doji star suggesting a possible reversal, then it turned around and is clinging to the middle band going upward.
The position at 3.9 is very critical; if it can stabilize, it might challenge the previous high, but if it gets pushed back, the middle band support at 3.0 will have to face a test.
The Bollinger Bands are slowly widening, indicating that volatility is clearly set to increase. In this kind of market, what is most feared is chasing highs and killing lows.
The market is currently in a delicate balance; an upward breakout requires volume support, and a downward adjustment depends on whether the main forces are willing to let go.
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