Will SUI face rejection at $4?

Will SUI face rejection at $4?

Zooming in on the 6-hour timeframe, the Fixed Range Volume Profile provided some clues on where SUI prices could go next.

Measured from the rally that began in the latter half of June, the FRVP showed that Sui bulls were driving the price toward the Value Area High at $4.

The $4 level was also a psychological round-number resistance. This confluence, combined with the minimal buying volume in September, meant that a breakout could take time.

Hence, traders can watch out for a rejection from the $4 supply zone.

In that scenario, a retracement to the $3.5 support, which was the Point of Control (red), can be expected.