SUI Update: Conditions Have Not Changed
2024-10-29

Since my last update for you we had a triangular top and the ensuing drop... What about now?

Good morning my dear reader, let's look at SUIUSDT again and see what the chart is currently saying.

We will cut through the analysis and go straight to what you want to know: Is the retrace over? Will SUIUSDT resume growing now or is it likely we see lower prices next?

➢ Based on the chart. The trading pair remains bearish below the last peak and the triangle baseline. The triangle baseline sits around $2.08, the last high was $2.36. SUI's bearish potential remains active below these levels.

➢ My opinion. Based on the broader market, there is still a major low in the cards before SUI's next bullish wave develops in full force.

Just as it took 131 days for SUI to hit bottom after March's peak, it would take a few more days for SUI to hit bottom from its current (October) peak. 

The time it would take now for the bottom to hit would be much shorter because the recent bullish wave was much smaller.

The previous bullish wave lasted 159 days while the current one only lasted 69 days. So the bottom is getting close. Wait for the bottom before going LONG.

👉 We continue bearish on SUIUSDT.

Patience is key.

Thanks a lot for your continued support.

Namaste.