A 1:5 Trade Setup? SUI’s Chart Looks Interesting

The SUIUSDT SUIUSD chart on the 1W timeframe presents a bullish structure despite the recent 70% retracement. The EMA ribbon remains upward-sloping, indicating that the long-term trend is still intact.

Currently, price is rejecting the $2.3680 support level, making this an area of interest for potential buyers. However, a deeper retracement toward $2.1349 could offer an even better entry opportunity, aligning with key historical price reactions.

A long position from $2.1349, targeting the previous all-time high at $5.3687, presents an attractive risk-to-reward ratio exceeding 1:5, making this a high-probability setup for traders looking to capitalize on a potential recovery.

The key confirmation for upside continuation would be a break of a recent swing high, signaling renewed bullish momentum.

👨🏻‍💻💭 Will SUI bounce from support and reclaim $5.36, or is there more downside ahead? Share your thoughts and let’s discuss the next move!
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