SUI · 1H · UPTREND
Price just completed a massive vertical spike from roughly 0.6300 up to 0.7200+ on extreme volume, then pulled back hard to the current 0.7039 area — right on top of the 0.7000 round number and what was the prior consolidation ceiling from late July/early August. The move printed a textbook spike-and-retest structure, and I'm watching whether 0.7000 holds as the new floor. The structure shifted bullish the moment price reclaimed everything above 0.6800 in a single explosive session — that's not a random pump, that's trapped shorts getting squeezed and real momentum entering. I'm not chasing, but I'm treating this pullback into 0.7000 as the first real opportunity to participate in the new range.
LONG SCENARIO
Confirmation
0.7039
Holding and closing above 0.7039–0.7050 on a 1H candle with buyers defending 0.7000 confirms the retest is complete and bullish structure holds.
Invalidation
0.6900
A 1H close below 0.6900 — that loses the prior resistance-turned-support zone and invalidates the breakout entirely; the dense liquidation cluster at 0.6668 sits just below and I'm not getting pulled into that flush.
Target 1
0.7200
The spike high and the dense liquidation cluster at 0.7394 sits just above, making 0.7200 the natural first structural pause where I'd trim.
Target 2
0.7394
0.7400 — dense liquidation cluster above; a sweep of that level is where shorts from the prior distribution get hunted and the move likely exhausts.
Risk/Reward
(0.7200 − 0.7050) / (0.7050 − 0.6900) = 0.015 / 0.015 = 1.0:1 to T1; to T2: (0.7394 − 0.7050) / (0.7050 − 0.6900) = 0.0344 / 0.015 = 2.3:1
Resistance: 0.7200 / 0.7394–0.7400
Support: 0.7000 / 0.6800
This is not financial advice. Content is AI-generated.