- SUI Rallies 10% Amid Market Optimism: Sui (SUI) surged 10% in the past 24 hours, trading between $3.71 and $4.15, as traders positioned for further upside despite a $40 million inflow to exchanges that could indicate potential selling pressure.
- Technical Analysis and Key Levels: SUI broke out of a consolidation zone at $3.80, retested it as support, and is now targeting $5.65 — a 40% rally if the breakout structure holds. A drop below $3.71, however, could invalidate the bullish setup.
- Overbought RSI Raises Correction Risks: The Relative Strength Index (RSI) has climbed to 75, signaling overbought conditions and increasing the likelihood of a price pullback before any sustained move higher.
Sui (SUI) is catching serious attention after a 10% rally over the past 24 hours, fueled by broader market optimism as Bitcoin (BTC) and Ethereum (ETH) lead the charge. But as SUI soars, a sudden $40 million inflow to exchanges has raised a few eyebrows. Is it a selloff signal?
$40 Million SUI Inflow — What Does It Mean?
According to data from CoinGlass, SUI exchanges recorded $39.98 million in inflows during the height of the rally. Typically, when large amounts of assets flow into exchanges during a price surge, it hints at potential selling pressure from long-term holders.
Despite this, market sentiment remains bullish. Traders are positioning heavily at two key levels — $3.7111 as the lower bound and $4.15 as the upper bound. At these levels, long positions outweigh shorts, with $80 million in longs and $30 million in shorts. Essentially, the bulls believe that SUI will hold above $3.71, maintaining upward momentum.
SUI Price Action – Technical Analysis
On the technical side, SUI looks poised for further gains. AMBCrypto’s analysis shows that SUI has successfully broken out of a prolonged consolidation phase near the $3.80 resistance level. After the breakout, SUI retested $3.80 as support, confirming the structure.
If the price holds above this level, SUI could potentially rally 40% toward the $5.65 target. However, the setup remains valid only as long as SUI stays above $3.80. A breakdown below that level could invalidate the bullish structure.
RSI Shows Overbought Conditions
Despite the bullish momentum, SUI’s Relative Strength Index (RSI) has climbed to 75 — a clear overbought signal. Typically, when RSI enters overbought territory, a price correction becomes more likely, at least until the RSI cools off below 70.
Key Levels to Watch:
- Support: $3.80, $3.71
- Resistance: $4.15, $5.65
- Breakout Confirmation: Sustained price action above $3.80 could open the door for a move toward $5.65. Conversely, a break below $3.71 could signal a shift in momentum, potentially triggering a deeper correction.
