📊 $SUI – Looking for a Bounce
It's correcting the July cycle after breaking the uptrend channel and now looking to find support near term.
Price already reached the equal legs area at $0.69–$0.67, where a bounce higher is expected to unfold in at least 3 waves.
As long as the bounce remains corrective and fails below the July peak, bears will be looking for another push lower next month.
SUI remains within a weekly accumulation zone and sideways price action within a daily range is expected at this stage.
#ElliottWave #Trading #Crypto
It's correcting the July cycle after breaking the uptrend channel and now looking to find support near term.
Price already reached the equal legs area at $0.69–$0.67, where a bounce higher is expected to unfold in at least 3 waves.
As long as the bounce remains corrective and fails below the July peak, bears will be looking for another push lower next month.
SUI remains within a weekly accumulation zone and sideways price action within a daily range is expected at this stage.
#ElliottWave #Trading #Crypto