- SUI maintains 1-2 Elliott Wave structure with $2.65 key support, invalidation at June low.
- Fibonacci extensions project wave 5 to $13, amid institutional buys and DeFi growth.
- Analysts target $4.20–$5 by September end, with RSI oversold signaling potential reversal.
As the crypto market navigates September’s historically volatile waters, Sui (SUI) is flashing signs of a potential bullish reversal, according to prominent analyst More Crypto Online.
In a, X post, the Elliott Wave expert highlighted SUI’s long-term chart, noting the price is “still holding the structure for a possible 1-2 setup,” with $2.65 as critical support and the June low as the first invalidation level.
This analysis comes amid SUI trading around $3.35, down from recent highs but showing resilience in a broader downtrend. The chart, overlaid with Fibonacci extensions, projects ambitious targets: a wave 3 push to $9 (138% extension), wave 4 retrace, and wave 5 climax at $13 (178.6% extension), potentially unfolding into 2026.
Lower fib levels align with supports at $3.17 (50%), $2.94 (61.8%), and $2.46 (78.6%), reinforcing the $2.65 threshold as a make-or-break zone. This setup echoes broader optimism, with analysts eyeing $4.20–$5.25 by month-end if momentum builds. Institutional demand surges, as a Nasdaq-listed firm scooped 20M SUI tokens, bolstering on-chain metrics and DeFi TVL growth.
On X, sentiment mixes caution with hype: one trader sees an ascending triangle targeting $6.63–$11.36 on breakout above $3.50, while others warn of traps below $3.00. Technicals support a bounce—RSI oversold at 16.7, MACD hinting reversal—amid fading volume, suggesting a coiled spring.
Sui’s Layer-1 prowess in speed and scalability, plus VC backing, fuels long-term bulls, with predictions reaching $7.01 in 2025 and $23.77 by 2030. Yet, token unlocks loom, capping short-term FOMO. This isn’t blind optimism; SUI’s chart confluence—Elliott Waves, fibs, and supports—aligns with catalysts like DeFi expansion and futures momentum.
If $2.65 holds, a wave 3 explosion could materialize, but a break below June lows flips to bearish, targeting $2.30.Traders eye $3.50 resistance for confirmation, with descending channels and symmetrical triangles adding intrigue.
As Bitcoin stabilizes, SUI could lead altcoin recoveries, drawing parallels to Shiba Inu’s resilience. Watch on-chain flows and sentiment for the next leg—SUI’s setup screams opportunity for patient bulls.
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.
