{"id":62253,"date":"2025-04-27T00:00:11","date_gmt":"2025-04-27T00:00:11","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=62253"},"modified":"2025-04-27T00:00:11","modified_gmt":"2025-04-27T00:00:11","slug":"sui-primed-for-market-correction-analyst-sets-target-at-2-75","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=62253","title":{"rendered":"SUI Primed For Market Correction \u2013 Analyst Sets Target At $2.75"},"content":{"rendered":"

Amid a general crypto market rebound, SUI stood out from the crowd, emerging as the second-highest weekly gainer, rising by 67.21%.<\/a> The prominent altcoin has been one of the major headliners of the current market cycle, increasing by 192.70% in the past year.\u00a0<\/p>\n

However, certain market technical indicators show that SUI is likely headed for a correction following its most recent explosive gains.\n<\/p>\n

Elliott Wave Count Suggests Pullback Looms For SUI<\/strong><\/h2>\n

In an X post<\/a> on Friday, X market analytics handle More Crypto Online shared an interesting analysis on the SUI market using the Elliott Wave theory \u2014 a technical tool that predicts future price trends by recognizing recurring wave-like patterns.\u00a0<\/p>\n

According to the analysts at More Crypto Online, SUI\u2019s 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 in the Elliott Wave analysis.<\/p>\n

For context, the Elliott Wave theory postulates that price movements occur in five recurring wave patterns. Wave 3 is usually regarded as the strongest and longest wave in a bullish trend. It is a wave of confirmation indicating a robust market participation.<\/p>\n

Based on the current wave count in the SUI market, the altcoin is completing the final stages of Wave 3, having surpassed the minimum Fibonacci extension level of 138%. As expected, signs of waning demand are beginning to set in, as indicated by a 5.7% price retracement in the past day.\u00a0<\/p>\n

More Crypto Online predicts Wave 4 \u2014 a corrective price phase may now be imminent. SUI is expected to experience a price pullback with initial support zone set at $3.27. Notably, a decisive price break below this level would confirm the end of Wave 3 and the beginning of Wave 4.\u00a0<\/p>\n

Furthermore, a deeper market support lies between $2.95 and $2.75, which represents the 38.2% \u2013 50% Fibonacci retracement zone of the Wave 3 move. More Crypto Online views this price region as the support target zone for a healthy Wave 4 correction.\u00a0<\/p>\n

Therefore, market bulls must hold this price zone to retain SUI\u2019s bullish structure and set the stage for a potential Wave 5 breakout.\n<\/p>\n

SUI Price Outlook<\/strong><\/h2>\n

At press time, SUI trades at $3.58 following an 8.85% overall gain in the past day. Meanwhile, the coin\u2019s daily trading volume is up by 18.64% and valued at $3.44 billion.\u00a0<\/p>\n

If SUI\u2019s price retracement continues, the altcoin<\/a> is expected to trigger Wave 4 of its current wave cycle, indicating a potential 50% correction lies ahead. However, if bullish momentum remains intact, SUI could rise to around the 200% Fibonacci extension level, around $3.99, which represents the coin\u2019s next major resistance.\n<\/p>\n

Featured image from Adobe Stock, chart from Tradingview<\/p>","protected":false},"excerpt":{"rendered":"

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.\u00a0 However, certain market technical indicators show that SUI is likely headed for […]<\/p>\n","protected":false},"author":0,"featured_media":62254,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-62253","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/62253"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=62253"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/62253\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/62254"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=62253"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=62253"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=62253"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}