$SUI - Correction within an Uptrend: Eyes on $3.0 → $5.0SUI is respecting a broader rising structure while carving a descending correction (red channel/wedge) on the daily.
Price just bounced from the trendline + $3.00 support, a clean confluence area where bulls typically reload.
Trend context: Macro higher-lows intact (bullish). Micro still corrective until the wedge breaks.
Key levels
Support: $3.00 (structure + rising trendline)
Resistance: $3.55–$3.60 (wedge cap / first hurdle), then $5.00 (major ceiling)
Confluence 🔑
Rising blue trendline + horizontal $3.00 + corrective wedge = high-interest decision zone.
Scenarios
Bullish 📈Hold $3.00 and break above $3.55–$3.60 → momentum extension toward $4.20–$4.50, then the $5.00 range high.
Bearish 📉Daily close below $3.00 → risk of a deeper pullback before the uptrend resumes.
Do you think SUI clears the wedge on this attempt, or does it need one more higher-low above $3 first? 🤔
⚠️ Disclaimer: This is not financial advice. Always do your own research and manage risk properly.
📚 Stick to your trading plan regarding entries, risk, and management.
Good luck! 🍀
All Strategies Are Good; If Managed Properly!
~Richard Nasr
