$SUI - Breaking of the Ice

SUI is still trending downward as its price continues to be rejected at the VWAP.

On the daily timeframe, we can expect the price to retest its daily demand zone around $1.70 and $1.60.

We are looking to enter a long position at this level, targeting the equilibrium around $2.80 to $3 (to break through resistance, or "break the ice").

If we encounter any rejection at that level, we’ll then look to short, targeting $0.80.

This thesis would be invalidated by a clean reclaim of $2.50.