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

SUIUSD appears to be forming a classic 1-2, 1-2 Elliott Wave setup — a bullish structure that often precedes an explosive third wave rally. In this pattern, we first see a motive Wave 1 followed by a corrective Wave 2, then another smaller-degree Wave 1 and 2 within the larger Wave 3. This kind of nested structure shows strong underlying bullish momentum building up in layers. Once the second minor Wave 2 completes, SUI could launch into a powerful third wave of Wave 3, typically the strongest and most extended move in the sequence. That’s the breakout phase where price accelerates rapidly, often leaving late buyers behind. Watch for confirmation