$SUI SUI is currently trading at 4.03 USD with an increase of 3.25% and is fluctuating near the historical supply zone. The price has broken out of a multi-month triangle pattern and is approaching the 0.786 Fibonacci retracement. However, technical indicators such as RSI and Bollinger Band indicate that SUI is in the overbought zone with an RSI of 72.7 and the price touching the upper band of the Bollinger Band, which often acts as dynamic resistance.
Some factors to watch to determine whether SUI can maintain its upward momentum include:
- *Inflow to Exchange*: A sudden increase in the amount of tokens transferred to exchanges may slow down the upward momentum.
- *Whale Activity*: The involvement of large investors can provide a foundation for a stronger bullish trend.
- *Market Sentiment*: The derivatives market still leans towards a scenario of continued price increase with a positive funding rate and dominant active buying volume.
The potential price target for SUI is 4.8 USD if the buyers can maintain the upward momentum and turn the supply zone into support. However, failure to hold the crucial support level may lead to a price decline.