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SUIUSD continues to respect the channel from October 2024, currently finding support near the 61.8% Fibonacci extension zone. This area could still fuel a bounce this month, offering short-term relief.
However, unless price breaks decisively above $3, the structure remains corrective, likely forming a lower high. That would set the stage for sellers to re-enter, targeting a swing move lower below $1 in the coming months.
#ElliottWave #Trading #Altcoins
SUIUSD continues to respect the channel from October 2024, currently finding support near the 61.8% Fibonacci extension zone. This area could still fuel a bounce this month, offering short-term relief.However, unless price breaks decisively above $3, the structure remains corrective, likely forming a lower high. That would set the stage for sellers to re-enter, targeting a swing move lower below $1 in the coming months.
#ElliottWave #Trading #Altcoins
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.