In the big test
$SUI is now fighting the two most important levels on the chart.
The last downtrend line.
And the resistance is 0.85.
This is the important area.
The first breakout from the smaller bearish wedge has already occurred.
Now the market is waiting for confirmation.
If $SUI breaks above this final trendline and reclaims the 0.85 level, then the structure will start to appear more bullish.
That will open the door to the next higher levels.
The areas I’m watching next are around 1.10, then 1.35.
But if the price is rejected here again, that means the market is still not ready and more consolidation may come first.
In short:
The transfer process has started.
But real confirmation has not come yet.
$SUI needs to break and hold at 0.85.
$SUI is now fighting the two most important levels on the chart.
The last downtrend line.
And the resistance is 0.85.
This is the important area.
The first breakout from the smaller bearish wedge has already occurred.
Now the market is waiting for confirmation.
If $SUI breaks above this final trendline and reclaims the 0.85 level, then the structure will start to appear more bullish.
That will open the door to the next higher levels.
The areas I’m watching next are around 1.10, then 1.35.
But if the price is rejected here again, that means the market is still not ready and more consolidation may come first.
In short:
The transfer process has started.
But real confirmation has not come yet.
$SUI needs to break and hold at 0.85.
