$BTC
Shows energy similar to SOL in 2021, and the price movement aligns well with what might be wave 5 of the Elliott wave structure, especially with today's gain of +5.93% pushing towards key resistance.
Why $SUI might be in wave 5
The strength of wave 3 has already been confirmed with sharp volume and momentum.
Wave 4 may have formed a consolidation/pennant pattern.
The target area for wave 5 could extend towards $4.50–$5.20, depending on continued volume and overall sentiment.
Increased on-chain activity, ecosystem growth, and rising decentralized finance deployment on SUI reflect early breakout patterns of SOL.
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Key levels to watch
Immediate support: $3.70 – $3.85
Breakout confirmation: Sustainable close above $4.00
Wave 5 extension targets:
• Conservative: $4.50
• Aggressive: $5.20+
Invalidation: Break below $3.60 on high volume.
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This could be the ignition of the early stage of a broader altcoin bull cycle, especially if BTC/ETH hold their high ranges. The fundamentals and price structure for SUI align well.
