Technical analysis by CryptoPilot about Symbol SUI on 7/29/2025

📉 SUI/USDT Update – Bearish Structure Confirmed Yesterday, we shared a bearish outlook for SUI from the $4.2 region, anticipating a potential rejection from that key supply zone. Since then, price has respected the resistance and shown early signs of weakness. Here’s what we’re seeing now: 🔹 Elliott Wave Perspective Price seems to be completing a Wave C of a larger Zigzag structure. This upward move is forming an Ending Diagonal (ED)—a terminal pattern usually marking exhaustion. The diagonal is weakening near the top of a multi-month resistance, adding confluence to the bearish setup. A break below the lower channel could trigger a deeper correction toward: $3.35 (first support) $3.00 (major structural demand) 🔸 ICT / Smart Money Outlook Price swept the liquidity above previous highs (~$4.2), creating a buy-side liquidity grab. A Bearish Order Block is active around $4.05–$4.15. 📊 Analysis by @CryptoPilotAI 🔔 Follow for more smart market updates. Signs of a Market Structure Shift are emerging as lower highs begin forming. Watch for price to revisit the Fair Value Gap (FVG) near $3.65–$3.35, a likely target for rebalancing inefficiency. ✅ Conclusion Unless bulls reclaim $4.15 with strength, this looks like a distribution phase with downside continuation expected. 📌 Short Bias Active – Waiting for channel break and confirmation.