SUI recently moved below last year’s October low, a notable downside development as it indicated the market traded through a major reference level and cleared liquidity positioned beneath it. Price reacted afterward and recovered by roughly 30%, but the key observation is that this upward leg was considerably weaker than the preceding decline. This imbalance in strength keeps the current move categorized as a reaction rather than a confirmed shift in delivery.

SUI technical analysis

SUIUSD - 1 Day Time Frame

For a potential buy scenario to become valid, SUI could require clear confirmation on the daily timeframe. In this context, confirmation is defined precisely: the market would need to close above the origin of the bearish price delivery, which also aligns with the daily resistance zone highlighted in orange on the chart. Until this level is reclaimed with a clean daily body close, the bullish scenario remains unconfirmed and the market may continue to be viewed within a broader weak phase.

If price does close above this resistance and maintain acceptance, the probability could shift toward upside continuation, as the market would demonstrate the ability to reclaim the source of bearish delivery rather than producing only a short-term rebound. Under such conditions, the natural objectives could become the Buy-Side Liquidity levels, since these highs often act as magnets once bullish continuation is confirmed on the daily timeframe.

If the market is unable to reclaim the orange resistance zone and fails to close above the origin of bearish delivery, the setup would remain invalid. In that case, SUI could stay vulnerable, and further downside continuation would remain a realistic possibility, as the market may continue expressing weakness after breaking the October low without converting the rebound into a confirmed structural shift.