SUI also appears to be in a local wave 4 due the characteristics of the overlapping price action and lack of any momentum.That means wave C of (B) has one more push lower to complete the macro correction.
$1.078 is acting as the tough local resistance and push above this will be bullish the scenario.
Price is consolidating in the High Volume Node at the golden pocket fibonacci retracement but altCoin have a higher probability to end at the altcoin golden pocket 0.786 Fibonacci retracement which falls inline with another push lower, giving us a terminal target of $0.646.
No divergences in RSI.
Bulls want to see the daily pivot hold which is being tested today. Price is well below the daily 200EMA.
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🎓 Behavioural Economist (PhD)
📈 Trader / Investor 15 years
👑 Unlock my trading plans: tradingblueprints.substack.com
🏆 Market Psychologist Newsletter: marketpsychologist.substack.com
📈 Trader / Investor 15 years
👑 Unlock my trading plans: tradingblueprints.substack.com
🏆 Market Psychologist Newsletter: marketpsychologist.substack.com
Publications connexes
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.