Technical analysis by SiDec about Symbol SUI: Buy recommendation (5/14/2025)

SUI has been trapped in a trading range for the past 6 days, consolidating between key levels and building up liquidity for the next big move. When price goes quiet like this after an impulsive structure, it’s not time to trade—it’s time to observe, analyse, and prepare.So, where’s the next high-probability setup?Let’s break it down:🔹 Elliott Wave ContextFrom my previous SUI analysis, I identified a completed 5-wave impulse structure. After such a move, a corrective ABC pattern is typically next.SUI has been respecting technical levels with surprising accuracy throughout this cycle—especially Fibonacci levels and key horizontal zones.📉 ABC Correction in Progress?Wave A appears to be completed, and Wave B was rejected at the yearly level in perfect confluence with the golden pocket (0.618–0.666) retracement of Wave A. This strongly suggests that Wave C is now unfolding.Using the 1:1 trend-based Fib extension, the projected Wave C target lands at:➡️ $3.6413Let’s dig deeper—does this level hold up under further scrutiny?🔍 Multi-Layered Confluence at $3.56–$3.64Here’s what aligns at this potential support zone:1:1 Fib extension (Wave A = Wave C) → $3.64130.55 Fib retracement (from $3.1132 to $4.2967) → ~$3.64Volume Profile POC from prior range → ~$3.590.618 Fib retracement → $3.5653Weekly level → $3.559421-Day EMA → $3.553721-Day SMA → $3.63190.75 Fib Speed Fan (if hit on May 16) → aligns with zoneThis stack of levels gives us a tightly packed, high-conviction support area between:📍 $3.56 – $3.646___________________________________🟢 Long Setup Idea:Entry Zone: Ladder entries between $3.56 and $3.75Stop-Loss: $3.4546 (beneath confluence zone)Take-Profit Target: $4.588 (0.786 Fib retracement + -0.236 Fib extension)R:R: ~5:1🚫 Invalidation: If SUI reclaims the yearly level at $4.1152 before revisiting this support, the setup is invalidated.🔴 Short Setup Idea:If SUI pushes into the 0.786 Fib retracement at $4.588 and shows clear rejection (e.g., SFP, bearish engulfing, high-volume reversal), a short can be considered.Entry: On rejection at $4.588Stop-Loss: ~$4.714Targets:TP1: $4.325 (recent highs)TP2: $4.1152 (yearly level)🧠 Final Thoughts:This is where trading becomes a game of patience. I’ve mapped both long and short setups based on structure, confluence, and price behaviour. Now it’s about waiting for price to come to your levels.⏰ Alarms set.📈 Let the chart do the work.More updates to come as the range resolves. Stay sharp!___________________________________If you found this helpful, leave a like and comment below! Got requests for the next technical analysis? Let me know.Keep an eye out for an SFP at the low or 0.618 long entry:Trade playing out as planned — strong bounce off the 1:1 trend-based Fib extension, perfectly aligned with the 0.55 retracement. 0.75 Fib Speed Fan acted as support. Next target for this long setup is the 0.786 Fib:After two failed breakouts, SUI pulled back to test the 0.618 Fib, trade setup still intact:📈 SUI Quick Update – May 22SUI continues to deliver! Trading cleanly, respecting structure, and pushing through key resistance levels with strength. The uptrend remains intact and well-supported.✅ Currently trading above:- 21 Daily EMA: $3.747- 21 Daily SMA: $3.78- Yearly Level: $4.1225- Weekly Bullish Order Block: $3.94–$4.00This stacked confluence zone has now flipped into strong support, giving bulls a solid base to build from.🔹 Reclaiming both the psychological $4 level and the yearly level is a major technical achievement! Now price has even broken above the weekly bullish order block, confirming strength across multiple timeframes.🎯 Next target in sight:The 0.786 Fibonacci retracement at $4.5873! A classic exhaustion/reversal zone. If price reaches it, watch closely for a high-volume rejection.📌 Summary:- Trend: Bullish (higher highs & higher lows)- Support: $4.12 → $4.00 → $3.94- Resistance/Target: $4.5873- Strategy: Maintain long bias while above support. Consider short only on confirmed rejection from 0.786 zoneSUI remains one of the cleanest, most technically reliable charts in this cycle! Structure, levels, and confluence are all aligned. Now it’s a waiting game for the next key reaction. 🧠📈Stay sharp — Trend is your friend 👀🔥👉 Bonus: If you want to apply these EMA/SMA zones to your own charts, check out my free indicator I built. It’s available under “Scripts” on my profile. Enjoy and happy trading! 💻⚠️ Quick SUI Update – May 22Major exploit on the Sui-based DEX Cetus Protocol today, with ~$260M drained. Market reacted sharply. Heavy volatility and uncertainty ahead.Be cautious with longs! Not the time to overexpose.If you’re already in profit, adjust your SL accordingly and protect capital.Let price structure settle before taking new positions. Stay safe out there. 🙏SUI long position closed following the news of the Cetus exploit and increased volatility.Stay cautious out there! Capital preservation comes first. Let’s see how the market digests this.