$SUI
🚨 Sui Price Analysis: Elliot Wave Pattern Signals More Gains 🚨
Sui price today trades at $4.15, its highest level since January, and 1,040% above its lowest level last year. This surge has transitioned it into the eleventh biggest cryptocurrency, making it bigger than Chainlink, Avalanche, Stellar, and Hedera.
Sui has formed an impulse Elliot Wave pattern, and is now in the final fifth wave. The first bullish wave started in October 2023 when it was trading at $0.3675 and ended in March last year when most cryptocurrencies soared.
The second wave followed that and ended in August 2024, while the third one, which is often the longest, ended in January this year. Sui Coin price started the final phase of Elliot Wave in April when Donald Trump launched his ‘Liberation Day’ tariffs.
While the fifth wave is typically short, there are instances when it becomes extended, and even longer than the third one. This happens when there is a frenzy among market participants, leading to the fear of missing out (FOMO).
The next important level to watch will be the all-time high of $5.33. A move above that level will be a sign that bulls have prevailed, which may trigger FOMO among retail investors. It will then raise the possibility of the coin soaring to the key psychological point at $10.
The bullish Sui price forecast will become invalid if it drops below the lower side of the fourth wave at $1.7200.
