$SUI Just Shit On The Haters ๐ฉ
Seven days ago, SUI closed near $0.69.
Today it trades around $1.02 after briefly reaching $1.08.
That is a roughly 50% move in one week, backed by nearly $2B in 24-hour volume.
The most important development is the breakout above $0.9725, a level that had capped price for months.
SUI is cooling today (as is the whole market as expected), but price remains above that breakout zone.
That keeps the long-term falling-wedge thesis firmly alive.
If $0.9725 becomes support, $1.08 is the first level bulls need to clear again.
Above it, Iโm watching $1.16 followed by the $1.28 Fibonacci extension.
A convincing break through $1.28 would bring the previous $1.40 region back into focus.
The chart is stretched after such a fast run, with the seven-day RSI recently reaching 87.6.
A controlled retest would strengthen the structure by proving former resistance has become genuine demand.
Losing $0.9725 would weaken the breakout and expose $0.91, so that is my invalidation level.
With Basecamp approaching and speculation building around Suiโs new finance product, the catalyst window remains open.
My bullish thesis is simple. Hold the breakout, consolidate above $1 and let volume build the next leg.
#Altcoin Season#
Seven days ago, SUI closed near $0.69.
Today it trades around $1.02 after briefly reaching $1.08.
That is a roughly 50% move in one week, backed by nearly $2B in 24-hour volume.
The most important development is the breakout above $0.9725, a level that had capped price for months.
SUI is cooling today (as is the whole market as expected), but price remains above that breakout zone.
That keeps the long-term falling-wedge thesis firmly alive.
If $0.9725 becomes support, $1.08 is the first level bulls need to clear again.
Above it, Iโm watching $1.16 followed by the $1.28 Fibonacci extension.
A convincing break through $1.28 would bring the previous $1.40 region back into focus.
The chart is stretched after such a fast run, with the seven-day RSI recently reaching 87.6.
A controlled retest would strengthen the structure by proving former resistance has become genuine demand.
Losing $0.9725 would weaken the breakout and expose $0.91, so that is my invalidation level.
With Basecamp approaching and speculation building around Suiโs new finance product, the catalyst window remains open.
My bullish thesis is simple. Hold the breakout, consolidate above $1 and let volume build the next leg.
#Altcoin Season#
