Since our previous Video blog about SUI, the coin rallied more than 900%.
SUI expecting the final bullish wave to break above $5 Since our previousVideo blog aboutSUI, the coin rallied more than 900%. Therefore, we’ll be looking at the daily Elliott Wave Structure and explain the current structure within the cycle. The recent daily rally started in August 2024, SUI established an impulsive 5 waves structure to the upside within wave ).In addition, it reached the 1.618 Fibonacci extension area around $4.7 before ending the cycle.
This recent price pullback was fueled by the hawkish rate-cut decision by the US Federal Reserve on Wednesday, which was followed by the highest single-day outflow from Bitcoin US spot Exchange Traded Funds on Thursday. The technical outlook suggests that the correction is set to continue, targeting the $90,000 level. How deep will crypto dive? The crypto market continues to retreat, having lost 4.4% to $3.36 trillion in the last 24 hours and already over 11% from the all-time peak of $3.
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