SUIUSDT.P is showing a constructive reaction from the mid-term support zone. As discussed in my Sunday’s crypto market review for the altcoin sector, I expect an uptrend to continue into late August, likely followed by a period of consolidation through middle to late Autumn. Ideally, the price forms a higher low during this phase, setting the stage for a significant breakout toward the end of the year or into early next year.
SUI has completed the correction of its last impulsive move and has started another upward movement. Although it currently appears to be a weak move, I believe it will provide around a 10% profit. As shown in the chart, I have opened a long position.