Trend Overview: $SUI has recently been showing a sideways to mildly bullish structure on the 4H chart after rebounding from a key support level. Price action is consolidating within a tightening range, signaling a potential breakout setup.
Key Levels:
Resistance:
$1.36 – recent swing high and neckline of a potential inverse head and shoulders.
$1.44 – strong resistance from March, psychological level.
Support:
$1.26 – immediate support, previously tested multiple times.
$1.20 – strong demand zone and 200 EMA support zone.
Indicators:
EMA (50 & 200):
Price is above the 50 EMA and attempting to hold above the 200 EMA – a bullish crossover may be forming.
RSI (Relative Strength Index):
RSI is around 55 – suggesting mild bullish momentum, not overbought yet, leaving room for more upside.
MACD:
Bullish crossover recently occurred – histogram showing increasing bullish momentum.
Chart Pattern:
Inverse Head and Shoulders forming – neckline at $1.36. A breakout above this level with volume confirmation could target the $1.44-$1.50 range.
Volume:
Volume is currently decreasing, showing consolidation. Look for a volume spike to confirm any breakout.
Conclusion:
Bullish Bias in the short term as long as price holds above $1.26.
A break above $1.36 with volume could trigger a rally toward $1.44–$1.50.
However, failure to hold $1.26 may bring price down to retest the $1.20 support zone.