The SUI chart has recently completed what looks like a strong and healthy five-wave impulsive move to the upside, starting from the low around $1.72 on April 7.
✅ Wave 1 and 2 have been confirmed
✅ Wave 3 peaked on April 25
✅ Wave 4 found support and bottomed on May 6 with a complex WXY correction
✅ Now, we appear to be in the final fifth wave upward
📈 What makes the SUI chart stand out is its impulsive structure. Unlike many altcoins that move in ABC corrections or diagonals, SUI has shown a cleaner, more predictable Elliott Wave pattern. This clarity gives us strong levels to watch.
🧠 According to Elliott Wave Theory, once a five-wave impulse completes, a correction is expected. That would be Wave 2 of a larger cycle. We should then expect a higher low to form, as long as support holds.
Key levels to watch:
🛡️ Current support: $3.65. As long as price stays above this level, we can expect further upward movement.
📍 Next resistance zone: $4.20–$4.30 (structural and Fibonacci-based)
🔺 Higher target if breakout occurs: $4.63
📝 Keep in mind: this analysis is educational. This is not financial advice. Always consider your own risk tolerance and trading style before making any decisions.
🎯 Summary:
Five-wave move looks nearly complete
Watch for a final short-term push upward
Prepare for a possible Wave 2 correction
$3.65 is a critical support level
$4.20–$4.63 is the resistance range to watch
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