SUI is currently facing a potentially risky situation. Experts believe it’s in the fourth phase of a larger downward trend. While this phase seems to be losing momentum, a significant move is expected soon. Either SUI will reverse course and break out of the current pattern, or it will continue falling to complete the anticipated final phase of the downward trend.
Key Bounce at 1.41: SUI Tests Critical Extension Support
More Crypto Online reports that SUI is currently experiencing a rebound after hitting a low of $1.41. This price level has repeatedly acted as a strong support, and this bounce is the first significant effort by buyers to reverse the recent price decline.
The price of SUI is now nearing a key resistance area between $1.68 and $2.21. This is where analysts anticipate a potential rebound, known as wave 4. Wave 4 retracements can be quite variable, meaning SUI might need to move around within this $1.68-$2.21 range before showing a definite trend.
If the price of SUI clearly rises above $2.21, it would be a strong indication that the recent upward trend is finished. This suggests a significant price low might have already occurred, potentially signaling a more substantial bottom for the market.
From my perspective, the bearish trend doesn’t seem fully played out yet. While we’ve seen a recent positive bounce, it hasn’t changed the overall downward pattern. If SUI can’t break through current resistance levels, I anticipate the correction could continue.
This perspective is similar to what we’re seeing with Bitcoin, which suggests it might drop to a new low after a brief recovery. If that happens, it reinforces the idea that SUI could also fall further before starting a more substantial uptrend.
Wave 4 Takes Shape As SUI Approaches Critical Resistance Zone
The analyst believes the recent price changes on the SUI chart could be part of a larger downward trend, specifically what’s known as a ‘wave 4’ within a bigger ‘C-wave’ decline. For a complete downward trend, there’s typically a five-wave pattern, meaning the chart likely needs to hit one more low point before a definitive bottom is established. This assessment will be revisited if the price starts behaving differently.
He explained that if SUI clearly falls back down after hitting a key resistance level, it would likely mean the current upward trend (wave 4) has finished. If this happens, he’ll update his forecast to predict a final price drop, completing the expected pattern.
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2025-11-29 17:17