SUI Price Just Did Its Own Thing — and Now It's Stalling in a High-Stakes Area

In the last article, we were looking at SUI with a pretty clear expectation: there was liquidity below, and I mentioned

In our last analysis of SUI, we focused on an interesting dynamic: a buildup of liquidity at lower price levels. As I’ve mentioned before, when substantial liquidity collects in such clear-cut zones, it often acts as an attractor for the price to converge with it.

My previous prediction was that it wouldn’t surprise me if we saw the price heading down to meet that liquidity, a move that would create a rather standard "sweep of lows" as it collected the liquidity on the way down.

Now, usually, when the market converges on a large amount of liquidity, it tends to stall and enter a holding pattern. This is because the price usually stalls at a supply zone, a concept I’ve discussed in previous articles.

As we observed on the chart, there was a daily supply zone forming directly above the April 29th equal highs. The chart had also displayed two equal highs, which is a technical formation that occurs when the price reaches the same level on two separate occasions.

This structure pointed towards the possibility of the price continuing upwards to at least sweep the liquidity above the equal highs before stalling in the daily supply zone.

And that’s just what happened.

The price moved up, sweeping the liquidity above the equal highs and stalling in the daily supply zone.

It’s a move that unfolded in a rather neat and tidy fashion, making it rather interesting to follow along the way.

Technically speaking, this puts the SUI price in a rather high-stakes area. We've seen a strong move up, a clean reaction at daily supply, and we've still got untouched liquidity at those April 29th equal highs.

To me, this signals that the current setup might not be finished yet.

Of course, there's always a chance that we'll see the price faking out and dumping from here. But even that scenario would be something that we could prepare for by keeping an eye on the structure and trends unfolding on the chart.

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