SUI/USDT - Wave 5 Bullish Setup 
2025-02-04
Category: None



 📈 Timeframe:  1W (Weekly)
🔍 Targeting $7 - $11+ in Wave 5!

 🔎 Elliott Wave & Fibonacci Analysis 
SUI/USDT appears to be in a Wave 4 correction, setting up for Wave 5 expansion. The analysis is based on Elliott Wave principles and Fibonacci retracement/extensions.

 📌 Elliott Wave Count 
1️⃣ Wave 1: Initial impulse move up.
2️⃣ Wave 2: Retracement and accumulation phase.
3️⃣ Wave 3: Strongest rally, forming the peak.
4️⃣ Wave 4: Current pullback, possibly completing soon.
5️⃣ Wave 5: Expected bullish breakout, targeting key Fibonacci extensions.

Wave 4 correction seems to be holding near the 0.382 Fibonacci retracement ($3.02).
If this support level holds, we expect Wave 5 to extend towards $7.07 - $10.92.

 🔹 Fibonacci Retracement & Extension Levels 
Level	                        Price (USDT)	Role
0.382 Fib Retracement	 $3.02	        Key support (Wave 4)
0.5 Fib Retracement	         $1.99	        Deeper correction (Invalidation level)
0.382 Fib Extension	         $7.07	        First target
1.236 Fib Extension	         $8.11	        Mid-target
0.618 Fib Extension	         $10.92	        Final target

 🔸 Support & Resistance Key Zones 
 Immediate support:  $3.02 (0.382 Fib)
 Strong resistance:  $4.50 - $5.00 (local highs)
 Final resistance:  $10.92+ (0.618 Fib extension)


 📊 MACD & RSI Confirmation 

 MACD (Momentum Analysis) 
✔️ Bearish crossover occurred during Wave 4 correction.
✔️ A bullish crossover on MACD would confirm Wave 5.
✔️ MACD Histogram Shrinking → Selling pressure reducing.

 RSI (Relative Strength Index) 
✔️ RSI currently at 54.81 → Neutral (Not Overbought)
✔️ No overbought conditions → Room for further price expansion.
✔️ Possible bullish divergence forming → Stronger confirmation for Wave 5 rally.

 🎯 Trade Plan 
📥 Entry Strategy
 ✅ Entry Zone:  Above $3.02 (0.382 Fibonacci level).
 ✅ Confirmation:  Bullish engulfing candle or MACD crossover.

 🎯 Take Profit Targets 
 1️⃣ Target 1:  $7.07 (0.382 Fib Extension)
 2️⃣ Target 2:  $8.11 (1.236 Fib Extension)
 3️⃣ Final Target:  $10.92+ (0.618 Fib Extension)

 🛑 Stop Loss 
 ❌ Stop Loss Below:  $1.99 (Invalidation level).

 🚀 Bullish Confirmation Signals 
☑️ Price holding above $3.02 (0.382 Fib retracement).
☑️ MACD bullish crossover (pending).
☑️ RSI maintaining above 50+ (not overbought).
☑️ Increased volume on breakout.

 📌 Summary & Expectations 
 🔸 Bullish Scenario:  If price maintains above $3.02, we anticipate a breakout into Wave 5, targeting $7.07 - $10.92+.
 🔸 Bearish Risk:  If price breaks below $3.02, we could see a deeper correction to $1.99 before a reversal.

 🚨 Risk Management:  Always manage risk properly. Use stop losses and adjust position sizing accordingly.

📊 Trade with confidence, and let's catch the Wave 5 move! 🚀🔥



