Introduction: SUI Coin has recently grabbed the spotlight with significant price action on the 3-day chart. Currently trading at $3.52, it has dropped 5.28% in the last 24 hours—but is this just a healthy correction or the start of a deeper decline?
Chart Analysis:
Recent High & Low:
In the last 3 days, SUI hit a high of $3.72 and a low of $3.46. The price rebounded strongly from its recent dip around $2.23, indicating solid buying interest.
Volume Spike:
The trading volume is surging, with a combined 24-hour volume of $415M+ (SUI + USDT). This suggests strong market participation and possible trend continuation.
Moving Averages (MA):
MA(5): $233M
MA(10): $251M
The short-term average crossing the longer MA hints at early bullish momentum.
RSI (Relative Strength Index):
RSI is currently at 78.5, which is in the overbought zone. While this indicates strong buying, it can also be a signal of a possible short-term pullback.
Bullish Indicators:
Sharp recovery from support near $2.23
Strong buying volume
Breakout from consolidation zone
RSI momentum favors buyers (but caution needed)
Bearish Risks:
Overbought RSI could signal a temporary correction
Resistance near $3.90–$4.00 may act as a barrier
If price falls below $3.00 again, bearish pressure may return
Conclusion: Is SUI Bullish or Bearish?
From a technical perspective, SUI appears to be entering a bullish phase, especially after bouncing from its recent lows with strong volume. However, the RSI caution and resistance overhead suggest short-term traders should be alert.
For long-term holders, this may be a bullish accumulation zone—but as always, use risk management and stay updated on news or fundamental shifts.
