Stock price surge in SUI: Bullish reversal indicators propel rise towards $4 and beyond
Hype builds for SUI: $4 lurks on the horizon but profit-taking could QUICKLY rain on the parade
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SUI [SUI], the second-hottest coin on CoinMarketCap this week, soared an explosive 70%, trailing only Official Trump [TRUMP] memecoin. This impressive rally that erased nearly half of its 2025 losses propelled SUI from $2.1 to $3.7. But it seems the good times might be coming to a screeching halt.
SUI - Will $4 become a pipe dream?
Source: SUI/USDT, TradingView
Despite hitting a high of $5.3, SUI erased the gains in Q1 and plummeted 68%, sinking below $2. This week's macro relief, which sent Bitcoin [BTC] towering above $90K, revived SUI's prospects. The ensuing memecoin frenzy rippling through its ecosystem set SUI's rally in motion.
Currently sitting at $3.6, SUI is 48% shy of its peak value of $5.3. The altcoin hasn't looked this bullish since January - when it surged onto the $5.3 mark. But will it coast through and breach the $4 resistance?
The daily chart shows the altcoin clearing key obstacles, including the 200DMA (blue) and $3.5. The next challenge - the $4 supply zone - also doubles as a breaker barrier and resistance level. Moreover, the overheated RSI suggests a possible cool-off or even a reversal.
Bulls betting on a breakthrough to $4 might get a second chance if SUI tempers and retracts to the 200DMA or $3.5. However, a definitive dip below the 200DMA serves as a red flag for investors eager to enter the market.
Profit taking looms large
Source: Coinglass
The increase in profit-taking grows ever-apparent. Coinglass's Exchange Netflow data reveals that, in the past 12 hours alone, SUI tokens worth $27 million flowed into Binance, Coinbase, and Kraken - hinting at a forthcoming sell-off.
pockets of mass liquidity accentuate these levels, making them juicy targets for traders searching for entry points. The $3.1-$3.3 zone offers particularly attractive prospects, as it aligns perfectly with the 200DMA on the price chart, thus reinforcing it as both key support and a potential buying opportunity in the event of a pullback.
In essence, SUI's 75% week-long winning streak could trigger profit-taking, especially as the RSI nears overbought territory. Whilst bulls might still attempt to push beyond $4, the burning-hot RSI hints at a potential cool-off.
The 200DMA serves as a vital marker in case of a price correction, thus warranting close attention.
Disclaimer: The information provided does not constitute financial, investment, trading, or other types of advice and is solely the writer's opinion.
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- The surge in SUI this week, propelling it from $2.1 to $3.7, has sparked optimism among investors, with $4 within reach.
- However, SUI's historical price movements suggest that profit-taking could rapidly dampen the current rally, with SUI erasing 68% of its value in Q1 this year.
- Bitcoin's price recently surpassing $90K has boosted SUI's prospects, but the market sentiment for SUI remains uncertain.
- In the crypto market, technology and finance continue to drive the investing landscape, with SUI and other altcoins like Solana holding significant potential.
- The RSI indicator on SUI's chart indicates a potential cool-off or reversal, making it crucial for investors to closely monitor the altcoin's progress towards the $4 resistance.
- Although pockets of mass liquidity in the $3.1-$3.3 zone could offer attractive entry points for traders, a definitive dip below the 200DMA would be a red flag for potential investors.
- The market heatmaps suggest that 2025 could see continued volatility and opportunities in the crypto market, with SUI and other tokens like BTC and SUI potentially contributing to this landscape.
