In the context of portfolio diversification, distributing capital across multiple cryptocurrencies is a common approach to mitigating risk in the event of sharp declines in individual assets. Recently, attention has shifted to SUI, a token that has gained over 80% since its June low and continues to exhibit strong bullish momentum.

What factors are contributing to this outlook, and could the current trend support a move toward new all-time highs? The following technical developments suggest SUI may be worth monitoring.

SUI technical analysis

SUIUSD - 1 Day Time Frame

From a technical perspective, the presence of a support zone combined with Buy-Side Liquidity accumulation appears to be a significant factor in SUI’s current structure. The rationale is both straightforward and technically grounded.

On the daily timeframe, the price of SUI is showing impulsive upward movement, currently consolidating just below the May high. Above this level, it may be reasonable to anticipate a concentration of Buy Stop orders, including Stop Loss orders from short positions, many of which may be located just above this prior high.

In bullish market conditions, such liquidity levels often attract price movement, as they offer the volume needed for larger transactions to be executed efficiently. This behavior is frequently observed in strong uptrends where price seeks out areas with concentrated order flow.

Within this framework, the potential for continued upward movement is supported by the nearby demand zones marked in blue on the accompanying chart. These zones may act as reinforcement for the current trend structure.

Stop Loss Considerations

The placement of Stop Loss orders remains a critical component of risk management. In this context, a Stop Loss could be placed near the upper boundary of the lower support zone. The reasoning is based on observed price behavior in trending markets: when upward momentum is strong, initial support zones are often left untested. A retest of such zones during the uptrend could indicate early signs of weakening momentum.

An illustrative example can be found in the support zone from early November of the previous year, highlighted on the bottom left of the chart. In that instance, the price advanced without revisiting the zone during the rally. Full rebalancing only occurred after the upward move had completed and a bearish correction followed.