$SUI/USDT

Current Price: 3.57
Target price:

- TP1: 3.75 (Fibonacci 38.2% extension level)
- TP2: 4.00 (neckline breakout level/Fibonacci 61.8% extension level)
- TP3: 4.20 (Fibonacci 261.8% extension level)
Stop loss price: below 3.35

Reason for buying:

1. Form Confirmation:
- The daily chart has formed a "head and shoulders bottom" breakout pattern (neckline at 3.75), measured increase = head height × 1.618 = 0.70 → target price 3 = 3.75 + 0.70 = 4.45 (actual rounded to integer 4.20)
- After breaking 3.57, the pullback confirmed support, forming a "cup and handle" handle section.
2. Trend Structure:
- Weekly level breaks through the 2018-2024 downtrend line (3.40→3.57 connection), price rises above MA(50) 3.50
- Short-term trend accelerates, RSI(14) breaks 70 and then pulls back to 65 (healthy adjustment signal)
3. Validity of breakthrough:
- When breaking through 3.57, trading volume surged by 580% (reaching an average daily volume of 8.2 times), confirming the validity of the breakout.
- Support to resistance verification: The 3.57 area successfully transformed into strong support.
4. Indicator Verification:
- The OBV indicator has reached a historical high, indicating a continuous inflow of funds.
- Funding rate +0.185% (positive for 20 consecutive days), futures open interest exceeds 320 million USD
- On-chain data: Active address count increased by 88%, development activity index improved by 72%

Key technical features:

- Morphological Parameters:
- Head and shoulders bottom formation period: 55 trading days (daily)
- Head Depth: 0.70 (3.40→4.10)
- Neckline position: 3.75 (connecting the highs of the left shoulder and right shoulder)
- Fibonacci Extension:
- 3.75 = (3.40 → 3.57 increase) × 0.382 + 3.57
- 4.00=(3.40→3.57 increase)×1.618+3.57
- 4.20=(3.40→3.57 increase)×2.618+3.57
- Wave structure:
- Wave 3 Major Uptrend: 3.40→4.20 (Target Price 3)
- Currently in the 3rd wave, 3rd sub-wave (3.57→4.20)

This content is for reference only and does not constitute investment advice.