SUI/USDT Update – Bearish Structure Confirmed

📉 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
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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.