SUI Approaching Decision Point as Channel Weakens

SUI is approaching an important decision zone after spending months inside a clearly defined descending channel. Price has reached the lower boundary of structure multiple times, and the recent reaction suggests growing interest near the demand zone.

The current bounce is forming directly at a cluster of Fibonacci supports, including the 0.5 and 0.618 retracement levels, which often act as strong pivot points during trend exhaustion. As long as SUI holds above the highlighted demand area, a short term relief wave toward the upper channel line remains possible.

A clean reclaim of the mid range structure would open the door toward the first major upside target at 2.4025. If momentum builds from there, the overall structure could shift from corrective to impulsive.

The bearish continuation scenario remains valid only if the demand area fails. A breakdown below 1.3102 would expose the lower expansion of the channel, where liquidity could be swept before any attempt to form a reversal.

Key Technical Notes:
• Price has respected the descending channel for several months
• Current bounce aligns with layered Fibonacci supports
• Reclaiming the mid range may activate bullish continuation
• Breakdown below demand confirms continuation of the downtrend

Invalidation:
A loss of 1.3102 would invalidate the bullish bias and reopen lower liquidity zones.

In simple terms:
SUI is sitting on major support. Holding here can trigger an upward wave toward 2.40. Losing support flips the outlook back to bearish continuation.