Hello, Skyrexians!
Recently we looked at the assets with the high potential, which are still in the accumulation phase. Today we will take a look at the coin $SUI which has already brought a lot of profit to its holders. While other alts are scamming every day, this coins performs great and now we can see a lot of optimism around this crypto. Is it time to sell SUI or rally will continue and this coins is the next Ethereum?
Let's take a look at the weekly time frame. Elliott waves theory tells us that listing pump was just a wave 1. After that we have seen the consolidation in a wide range. Price was able to maintain at pretty high level and continue pumping. We can count this wave as a wave 2 in a shape of flat correction ABC. After that price started the impulsive wave 3. This wave has the maximum target at 2.61 Fibonacci extension at $6. Correction can start in any moment now, so this token is dangerous.
After corrective wave 4 which can reach approximately $3, we expect the final wave 5 which has the targets above $8. There we have to wait for the red dot on the Bullish/Bearish Reversal Bar Indicator [Skyrexio], after that reversal is expected in the new bear market. As always, alerts from this indicator are automatically replicated on my accounts. You can find the information in our article on TradingView.
Best regards,
Skyrexio Team
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