Chainlink is approaching a decisive moment as its price compresses within a well-defined triangle structure. The pattern remains strong, but the market is signaling that a major move is imminent. Everything now hinges on a single trendline break, one that will determine whether LINK is ready to reverse higher or sink into a deeper correction.

B-Wave Extension Back In Focus: Is The Triangle Still Intact?

According to crypto analyst More Crypto Online in a recent update on Chainlink, it is crucial to step back and examine the bigger picture of the asset’s price action. The analyst believes the market is likely still extending the yellow B-wave correction. At the moment, the analyst is considering that this B-wave may be unfolding as a complex triangle pattern, as seen in the “yellow scenario.”

Despite the triangle hypothesis, the analyst emphasizes that there is currently no evidence that a definitive low has formed. To confirm a structural reversal, LINK requires a clear 1-2 setup to the upside, which would signal the start of a new impulsive trend. As stated in previous updates, a confirmed bottom hinges on a break above the first yellow trendline.

The triangle pattern, which typically unfolds as a 5-wave structure (A–B–C–D–E), remains valid for now, without a confirmed low. This pattern suggests that the price will continue to consolidate sideways, trapping both bulls and bears. 

More Crypto Online defined the critical invalidation point for the primary count. If the price were to break below the Monday, April 4th, low at $10.20, the current triangle microstructure would be entirely invalidated. Meanwhile, the broader B-wave correction would still be theoretically possible, but would likely unfold in a different structural path.

Critical Support Cluster: $10.70, $8.94, And $6.90 In Focus

More Crypto Online went further to highlight the next crucial support levels if the current triangle structure fails, which are located at $10.70, $8.94, and $6.90. The analyst cautioned that a definitive break below the $6.90 mark would significantly increase the probability of an alternative scenario for Chainlink: the unfolding of a larger degree Wave 4.

For now, the immediate focus is on how the price reacts within the key Fibonacci support zone defined by the boundaries of $6.90 and $10.70. The analyst concluded by stating the necessary condition for a structural low: the earliest sign of a reversal would be a break above the yellow trendline. Until that happens, the trendline continues to act as firm resistance, keeping the local downtrend structurally intact and signaling that caution remains necessary.

SUI is currently navigating high-risk territory, positioned in what analysts identify as Wave 4 of a larger, incomplete bearish sequence. While this move is reaching its exhaustion point, the market is poised for a final, decisive action: either a confirmed reversal that breaks the current corrective structure, or a drop into the anticipated Wave 5 to complete the full downside pattern.

Key Bounce at 1.41: SUI Tests Critical Extension Support

According to a recent update by More Crypto Online, SUI is currently bouncing from the 100% extension at $1.41, a zone that has consistently served as an important area of support. This reaction marks the first meaningful attempt by buyers to halt the recent downside pressure.

From here, price is now approaching a major resistance region between $1.68 and $2.21, which is the expected zone for a potential wave 4 bounce. The analyst notes that wave 4 retracements often vary significantly in depth. Therefore, SUI may need room to fluctuate within this entire range before establishing a clearer direction.

A decisive break above the $2.21 level would be a significant technical signal. Such a move would suggest that SUI has completed all 5 impulsive waves to the upside, increasing the probability that a more substantial market bottom may already be in place. 

For now, More Crypto Online emphasizes that the downside structure still appears incomplete, meaning the broader corrective move could resume if SUI fails to push above resistance. The recent bounce, while constructive, has not yet reversed the macro structure.

This outlook also aligns with the behavior of Bitcoin, which currently hints at the possibility of another low forming after a 3-wave corrective rebound. Such a scenario supports the idea that SUI could still have one more downward leg to finalize a full corrective pattern before a stronger recovery can begin.

Wave 4 Takes Shape As SUI Approaches Critical Resistance Zone

The analyst further explained that the current movement on the SUI chart is being viewed as a potential wave 4 within a larger C-wave decline. Since a complete C-wave requires a full five-wave structure, the chart is missing one more low before a more reliable bottom can form. This interpretation remains consistent unless price action proves otherwise.

He added that if SUI produces a distinct rejection or reversal within the key resistance zone, it would strongly suggest that wave 4 has reached its peak. Should that confirmation appear, the outlook will be updated to reflect the expectation of a final wave down to complete the structure.