- SUI trades near $3.47, testing critical support between $3.20 and $3.37.
- Wave B formation is developing after a possible blue wave A completion.
- Resistance lies near $3.56–$3.67 as traders await structural confirmation.
SUI has remained stable above the $3.20 to $3.37 support range, showing signs of forming a larger wave (B) structure. More Crypto Online data suggests that the recent low might have marked the end of the blue (A)-wave. This movement indicates that SUI could be entering a consolidation phase before another potential upward leg.
At the time of analysis, SUI was trading near $3.47 on Binance. The Fibonacci retracement zones indicate that the 50% to 78.6% levels correspond to the current support area. These levels have historically served as strong zones where prices often stabilize before resuming the main trend direction.
Technical Setup Suggests Short-Term Accumulation
The Elliott Wave count suggests that wave 2 correction could be completing within the orange box area marked between $3.20 and $3.37. According to More Crypto Online, “This would not really change anything structurally in a meaningful way.” This statement implies that the overall trend remains intact, and the ongoing correction is part of a broader wave structure.
Traders are closely watching for confirmation of the next impulse wave, which could begin once prices move above $3.56. The next resistance zone lies between $3.56 and $3.67, representing a potential breakout level. Above that, Fibonacci extensions point to targets between $3.72 and $3.88 if upward momentum builds.
Market Outlook and Key Levels to Watch
The short-term outlook for SUI remains cautiously optimistic as long as it stays above the $3.20 zone. Any break below this level could invalidate the current wave count and shift focus to the lower support near $3.00.
Meanwhile, a clear move above $3.67 would confirm the start of wave (B), indicating renewed buyer interest. Analysts continue to observe how SUI performs within these Fibonacci zones as market sentiment steadies.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
