It looks like SUI is setting up for a move toward( 1.7440) especially after the clear rejection showing up in the current price structure.
The chart makes it obvious that price is having a hard time staying above the mid-range zone where repeated wicks highlight the strong presence of sellers.
Price tapped the( 1.7950 – 1.7980) resistance area multiple times but couldn't hold any breakout which shows clear buyer exhaustion This repeated rejection suggests momentum is shifting to the downside unless the market can reclaim that resistance zone with real strength.
From a bearish perspective, the setup is clean : the breakdown from the compression zone along with the formation of lower highs supports a continuation move toward the next liquidity pocket around( 1.7440)
If buyers don’t step in aggressively the bearish pressure will likely keep pushing price into lower demand levels. A solid reclaim above( 1.7950 )would invalidate the short bias and shift the structure back to bullish.
As long as price remains below( 1.7950) further downside continuation is the more probable scenario.
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