The Trust Layer for Market Analysts

The analysis indicates that SUI is currently undergoing an ongoing correction, specifically tracking it as a possible B-wave in a larger blue scenario, which is considered more bullish long-term but still involves further downside. The asset has shown continued downward pressure, failing to produce a meaningful bounce or reversal signal, particularly since breaking below the 7th of April low. A key level approaching is the 100% extension of the A-wave's downward movement, targeting an area between $0.69 and $1.41. The immediate next target and support area is identified between $0.6972 and $1.4126, with the 100% extension at $1.4126 being a crucial level. The micro-structure suggests a potential 5-wave impulse down, currently in wave 3, which could lead to a wave 4 bounce towards the $1.92 to $2.42 resistance zone before a final wave 5 down completes the corrective structure. Resistance levels for a potential bounce are noted between $1.9258 (23.6% Fibonacci) and $2.4224 (50% Fibonacci). The market pressure predominantly remains downward, with no confirmed local low in place.