SUI Approaches Resistance Zone as Wave 4 Tests Critical Levels

SUI's Market Movement: Analyzing Wave 4 and Critical Levels

SUI is in a high-risk zone, identified as Wave 4 of an incomplete bearish pattern.
The price recently bounced from the $1.41 support level, indicating buyer interest.
Key resistance lies between $1.68 and $2.21, which could define the wave 4 bounce.
A break above $2.21 could signal the completion of 5 impulsive waves upwards, suggesting a potential market bottom.
The downside structure appears incomplete; failure to breach resistance may lead to further declines.
This aligns with broader trends observed in Bitcoin, hinting at another possible low.
The current movement is seen as part of a larger C-wave decline, requiring one more downward move for completion.
A rejection or reversal within the resistance zone would suggest the peak of wave 4, prompting expectations of a final downward wave.

SUI