SUIUSD starting rally for a $12 Cycle Top.

Sui / SUIUSD is reversing this week into green territory and if the 1week candle closes in gains, it will be a strong bullish signal as it would have rebounded just over the 1week MA50.

The pattern is a Channel Up for this Cycle, pushing the price slowly but steadily upwards.

Like the April 8th 2024 pull back, this week's correction almost touched the 0.5 Fibonacci retracement level, posting a symmetric 1week RSI pattern.

As long as the 1week MA50 continues to hold, we expect the new bullish wave of the Channel Up to start.

Since the December 30th high was on the 1.5 Fib extension, we believe the next one, which will most likely be the Cycle's Top, will also be on that level.

Buy and target 12.000.


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