SUI · 1H · DOWNTREND
Price spiked to roughly 0.9600 on August 20, then sold off hard — and it has been making lower highs and lower lows ever since. The move off that spike peak is now trading at 0.7355, which is right in the middle of a declining structure, below the prior distribution zone around 0.8000–0.8400. My previous long read hit Target 2 at 0.7394–0.7400, which was the spike high liquidation cluster — and that level has since flipped to resistance. Price is now grinding below it, the recovery attempts off the lows around 0.7200–0.7240 are fading, and the structure screams distribution. The news context notes SUI's current market price at 0.846 (as of August 25), which is above current price — meaning SUI has continued to bleed even after that snapshot. The dense liquidation cluster at 0.7240 just below is a magnet, and the 0.6997 cluster below that is the real draw if that level gives way.
I'm not chasing a short from mid-range here — price is sitting between 0.7240 support below and 0.7471 resistance above. Mid-range gives me worse R/R, so I'm letting price come to a level first. The setup I want is a bounce into the 0.7471 cluster where I can define risk cleanly.
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SHORT SCENARIO
Confirmation
0.7471
Rejection at 0.7471 — the dense liquidation cluster above — with a 1H close back below 0.7400 confirms the lower-high structure is intact and bearish continuation is on.
Invalidation
0.7824
A 1H close above 0.7824 — the next dense cluster above 0.7471; a break through two cluster levels negates the downtrend thesis entirely.
Target 1
0.7240
Dense liquidation cluster just below current price; shorts from the distribution sweep longs stacked there.
Target 2
0.6997
The next dense cluster below; a clean break of 0.7240 accelerates into this level.
Risk/Reward
2.3:1 (to Target 2, requiring 0.7240 to break)
Resistance: 0.7471 / 0.7824
Support: 0.7240 / 0.6997
This is not financial advice. Content is AI-generated.