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The last bullish wave, according to SUI, should break over $5
The coin's value increased by almost 900% since our last video blog post regarding SUI. Consequently, we will examine the Elliott Wave Structure everyday and describe the present cycle structure.
Starting in August 2024, SUI formed an impulsive five-wave structure to the upside inside wave (3), which led to the latest daily surge. It also ended the cycle at almost $4.7, which is close to the 1.618 Fibonacci extension region. It is anticipated that the currency will complete its fourth swing backward before beginning a fifth swing to the upside. The coin is now exhibiting three swings from all-time lows.
Wave 4's current drop is aiming for the $3.7–$3.1 range, which is also the 23.6%–38.2% Fibonacci retracement of the whole advance, and the short-term extreme equal legs area. As a result, SUI will re-establish its purchasing power and then resume its ascent inside wave (5), aiming to set new records and surpass $5.
Finally, the daily structure of SUI is still positive, and the present retreat will find support in 3, 7, or 11 swings. After that, there will be one more push to the upside, and then the whole 5 waves advance will cease, and a greater 3 waves correction will begin.
#GrayscaleSUITrust #BTCNextMove #MarketCorrectionBuyOrHODL? #MarketPullback $SUI $USUAL $MOVE
The coin's value increased by almost 900% since our last video blog post regarding SUI. Consequently, we will examine the Elliott Wave Structure everyday and describe the present cycle structure.
Starting in August 2024, SUI formed an impulsive five-wave structure to the upside inside wave (3), which led to the latest daily surge. It also ended the cycle at almost $4.7, which is close to the 1.618 Fibonacci extension region. It is anticipated that the currency will complete its fourth swing backward before beginning a fifth swing to the upside. The coin is now exhibiting three swings from all-time lows.
Wave 4's current drop is aiming for the $3.7–$3.1 range, which is also the 23.6%–38.2% Fibonacci retracement of the whole advance, and the short-term extreme equal legs area. As a result, SUI will re-establish its purchasing power and then resume its ascent inside wave (5), aiming to set new records and surpass $5.
Finally, the daily structure of SUI is still positive, and the present retreat will find support in 3, 7, or 11 swings. After that, there will be one more push to the upside, and then the whole 5 waves advance will cease, and a greater 3 waves correction will begin.
#GrayscaleSUITrust #BTCNextMove #MarketCorrectionBuyOrHODL? #MarketPullback $SUI $USUAL $MOVE
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