SUI Market Update – Elliott Wave-Based Trade Setup
SUI is currently in a Wave 4 correction, consolidating within the key Fibonacci support zone of $2.79 to $3.32. This zone aligns with typical retracement levels (50%–23.6%) for a healthy bullish correction.
Technical Analysis Summary:
Current Price Zone: $2.79 – $3.32
Correction Type: Three-wave (A-B-C) structure still unfolding
Support Range:
Primary: $2.79 – $3.32 (Fibonacci zone)
Deeper test levels: $3.12, $3.06, and $2.95
Bullish Scenario (Preferred):
Evidence for Reversal: Watch for a break above:
$3.36 (minor swing high)
$3.46 (Saturday high)
$3.76 (B-wave high for confirmation)
Entry Plan:
Buy Zone: $2.95 – $3.12 (within support box)
Stop Loss: Below $2.79 (invalidates structure)
Target 1: $3.76 (B-wave high)
Target 2: $4.20 – $4.30 (Wave 5 extension)
Target 3 (Extended): $4.80+ if momentum continues
Bearish Invalidation:
If price breaks and closes below $2.79, the wave count becomes less probable, and deeper downside could follow.
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