SUI (SUI) Market Analysis – May Update

SUI has shown a 3-wave move up from the April low but has yet to confirm a full 5-wave impulse, suggesting this could still be a corrective rally unless further confirmation develops.

Key Observations:

Currently consolidating inside resistance zone: $3.46 – $4.67

Support for the ongoing pullback lies between $2.79 – $3.32

As long as SUI holds above $2.79, there is potential for one more high to complete the 5-wave move from April

Entry Zone:

Accumulation possible within $2.80 – $3.10, depending on price reaction to the support area

Targets:

TP1: $4.27 (next resistance)

TP2: $7.35 (larger wave 3 target)

TP3: $10.92 (extension-level resistance)

Stop-Loss:

Below $2.79 – a break below this level would shift the trend back to the downside

Bias:

Bullish short- to mid-term outlook if support holds

Cautiously bullish, awaiting confirmation of a 5-wave structure.$SUI

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