SUI · 1H · SIDEWAYS
Price has been chopping in a wide range between roughly 0.7000 and 0.7800 since early July, with no clean directional structure — lower highs from the 0.7800 swing, but repeated bounces off the 0.7000 zone that refuse to break down. Right now price is sitting at 0.7501, squarely mid-range, which is the worst possible place to be trading from. I'm not touching this here — mid-range gives me no structural edge and I'm waiting for price to reach one of the defined extremes before I have a view.
LONG (CONDITIONAL) SCENARIO
Confirmation
0.7000
Holding above 0.7000 support with a close back above 0.7300 confirms bullish structure re-establishing toward the range high.
Invalidation
0.6950
Daily close below 0.6950 breaks the range low and invalidates the long thesis.
SHORT (CONDITIONAL) SCENARIO
Confirmation
0.7700
Rejection at 0.7700–0.7800 resistance zone with a close back below 0.7500 confirms bearish structure for range compression lower.
Invalidation
0.7850
Close above 0.7850 negates the rejection and clears the range high.
Resistance: 0.7700 / 0.7800
Support: 0.7000 / 0.6950
This is not financial advice. Content is AI-generated.