$SUI /USDT BEARISH RETEST IN PLAY AFTER FAILED BOUNCE
After a false breakout near $3.3859, $SUI continues to trade in a lower high pattern. The inverse head and shoulders pattern near $4.19 failed to hold, and the market structure favors the bears unless we reclaim key resistance.
📉 Chart Breakdown
Peak Rejection: $4.1922
Lower Highs: $3.7016 → $3.3859
Structure: Bearish channel under consolidation
Range: Between defined resistance and support
📊 Support & Resistance Levels
Resistance: $3.33 – $3.38
Support: $3.03 – $3.10
📈 Trade Setup (Short)
Entry Zone: $3.30 – $3.35 (resistance zone retest)
TP1: $3.10
TP2: $2.95
TP3: $2.85
Stop Loss: $3.42
This short setup aims to capitalize on the failed bullish continuation. $SUI Watch for rejection candles near $3.35 to confirm entry.