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SUI price action is currently forming a potential triangle pattern. If this wave E completes and we see a break to the downside, it could push for one more marginal low. For now, though, the market is clearly stuck in a range, trading right around the middle. From here, another retest of the lower support zone is still very much on the table.
When a market is range-bound like this, you have to stay flexible. Getting too caught up in exact wave counts isn't as useful as simply watching for impulsive moves. Right now, we haven't seen a clear 5-wave advance off the Tuesday low, which makes it hard to have confidence in a real upside breakout. The structure still looks overlapping and corrective.
Price has also slipped below the first key micro support level that was keeping the short-term bullish case alive. That move weakens the argument for an immediate push higher and increases the odds that we’re heading back down #ROBO #ROBO $ROBO toward the bottom of the range.