SUI has been climbing steadily inside a well-structured ascending channel for the past few weeks. The recent breakout above the $4.30 resistance zone – which was a key liquidity level – seems to have swept stop-losses and trapped late buyers.
🔎 Here’s what we’re watching:
– Price broke out of the ascending channel briefly and rejected from the upper parallel.
– The breakout above $4.30 was likely a liquidity grab (buy-side liquidity taken).
– Price is now pulling back, showing signs of distribution below resistance.
📉 Expecting a correction toward the lower channel line as price seeks rebalancing.
🧠 Strategy Notes:
– No reason to long here unless price reclaims $4.35 with volume.
– Ideal buy zone is near the midline or lower channel.
– A break below the channel could signal deeper correction toward $3.60 or lower.
📊 Always respect risk – don’t chase after price in these zones.
📡 Analysis by CryptoPilot – navigating the market with precision.
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