#Sui $SUI

has been experiencing an impressive upward trend, but signs of potential exhaustion are beginning to appear. Key technical indicators now suggest that the cryptocurrency has entered overbought territory, which has triggered speculation about whether a pullback might be imminent. While the recent rally reflects strong bullish momentum, the market could be approaching a critical moment. Can SUI maintain its upward streak or is a price correction inevitable?

At the time of writing this article, SUI has risen more than 10% and reached a price of $4.23 in the last 24 hours. This movement has pushed its market capitalization to over $12 billion, with a trading volume exceeding $5.5 billion, indicating significant interest from investors and market activity.*

Technical analysis: indicators point to overbought conditions

The price of SUI on the 4-hour chart is beginning to show bearish signals, with a notable decline towards the support level of $4 and the 100-day simple moving average (SMA). This downward movement is underscored by the formation of a bearish candle, suggesting increasing selling pressure in the market. A sustained drop below these levels could indicate a broader trend change, making this moment a turning point for its price action.