Resistance Reclaimed in the London Session

$SUI has broken back above its nearest resistance at $0.7498 on the 4H chart, confirming a retest of structure that had acted as a ceiling. The asset is currently trading near $0.7529, a 3.34% gain over 24 hours on $201M volume. This level carry weight because it represents the convergence of recent swing highs and a key fractal from earlier trading ranges.

The move higher reflects consistent buying pressure during the London session overlap. Volume backing this retest suggests institutional or semi-professional accumulation rather than retail FOMO, though the 90% positive social sentiment (LunarCrush) indicates broad awareness of the move.

Structural Path to the Next Level

The immediate upside target is $0.7696, the next identified resistance on the 4H structure. This level sits approximately 1.9% above current price and represents a previous swing high that formed the top of a consolidation band. If $SUI sustains above $0.7529 through the New York session open, the path to $0.7696 becomes the operative short-term thesis.

A successful close above $0.7696 would confirm a breakout pattern and potentially unlock liquidity toward $0.7900. Traders should watch for a failure to hold $0.7498 on any pullback - a drop below that level would invalidate the current structure and flip momentum back toward the $0.7350 support zone.

Risk Management and Key Fib Levels

On a pullback, the first support is the recently reclaimed $0.7498 level itself. Below that, the 0.618 Fibonacci retracement of the recent swing targets $0.7350 as secondary support. A break of $0.7350 would suggest the retest has failed and could trigger a move back toward $0.7200.

RSI on the 4H is approaching overbought territory, which historically precedes consolidation or mild pullbacks before further upside. This is not a reversal signal - merely a note that explosive continuation becomes less likely until RSI cools into the 50-70 range. MACD momentum remains positive with the histogram expanding, confirming that sellers have not yet regained control.

Key Takeaways

  • $SUI reclaimed $0.7498 resistance and is now testing $0.7529 with the next structural target at $0.7696