Amid a general crypto market rebound, SUI stood out from the crowd, emerging as the second-highest weekly gainer, rising by 67.21%. The prominent altcoin has been one of the major headliners of the current market cycle, increasing by 192.70% in the past year.
However, certain market technical indicators show that SUI is likely headed for a correction following its most recent explosive gains.
Elliott Wave Count Suggests Pullback Looms For SUI
In an X post on Friday, X market analytics handle More Crypto Online shared an interesting analysis on the SUI market using the Elliott Wave theory — a technical tool that predicts future price trends by recognizing recurring wave-like patterns.
According to the analysts at More Crypto Online, SUI’s bullish performance in the past week means the altcoin has surged to the 178.6% Fibonacci extension level around $3.71. This specified Fibonacci level represents a major technical milestone as it is a classic target area in Wave 3
We współpracy z: https://www.newsbtc.com/sui/sui-primed-for-market-correction-analyst-sets-target-at-2-75/
