$SUI just printed a sharp V-shaped recovery on the 1h, bouncing hard off the 0.6888 low and ripping 4%+ to current levels. What's notable is that this move blew straight through all the moving averages MA7, MA25, and MA99 are all clustered between 0.71-0.72, and price sliced through them in a single candle with a significant volume spike. That kind of momentum off a key low is usually meaningful, not just noise.
The upper Bollinger band on the 1h sits at 0.7357, which price is now trading above so we're technically extended in the short term and due for at least a minor pause or pullback to digest this move. The 0.72-0.7225 zone (MA7 and prior resistance) becomes the first support to watch on any retest. Bulls want to see that level hold and use it as a launchpad toward 0.7449 and eventually the 0.7726 swing high. As long as 0.71 holds on pullbacks, the short-term bias has flipped back to bullish.
The upper Bollinger band on the 1h sits at 0.7357, which price is now trading above so we're technically extended in the short term and due for at least a minor pause or pullback to digest this move. The 0.72-0.7225 zone (MA7 and prior resistance) becomes the first support to watch on any retest. Bulls want to see that level hold and use it as a launchpad toward 0.7449 and eventually the 0.7726 swing high. As long as 0.71 holds on pullbacks, the short-term bias has flipped back to bullish.