SUI is showing a **clear bullish 4H market structure**. Price has been printing successive **BMSs to the upside**, and the recent CHoCH did not lead to a meaningful bearish reversal. Instead, buyers defended the $1.10–$1.15 area and pushed price back toward the highs.

The key point now is that SUI is **consolidating near $1.20–$1.25 after a strong expansion**, rather than immediately retracing the entire move. That is generally constructive.

The current catalyst also supports the bullish narrative: Sui recently launched the DeepBook App, while the Sui Foundation announced its OpenAssets/tokenized-asset initiative on October 1. Sui Basecamp is also scheduled for October 7–8, giving the ecosystem another near-term attention catalyst.

From the chart:

Resistance: $1.25–$1.30
Major breakout: $1.35
First support: $1.15–$1.18
Major support: $1.05–$1.10
Higher support: $0.94

I would not chase the current price around $1.21. The better setup is either:

Long on pullback: $1.15–$1.18 with bullish confirmation.

Or the more aggressive confirmation:

4H close above $1.30–$1.35 → retest → long.

If $1.35 breaks and holds, the next upside objectives are approximately $1.50 → $1.65 → $1.90–$2.00.

The bullish thesis becomes weaker if price loses **$1.15**, and a decisive break below $1.05 would suggest the current bullish structure is failing and could send price back toward $0.94.

So the cleanest read is:

BMS → bullish continuation → consolidation → liquidity building near highs.

As long as **$1.15–$1.18 holds**, I favor another attempt at $1.30–$1.35. The real confirmation comes from a clean break and retest of $1.35.

Bias: 🟢 Bullish | Patience for entry | $1.35 is the key confirmation level.