On-chain analysis update $SUI on December 11, 2024 ⭐️

1. Current price

SUI Token is currently trading at 3.70 USD, a significant increase compared to previous days, with a 24-hour trading volume exceeding 2.53 billion USD. This indicates strong interest from investors and high liquidity in the market.

2. On-chain activity and whale wallets

On-chain data shows that whale addresses are accumulating heavily in the price range of 3.50 - 3.70 USD, accounting for a large portion of the trading volume in the past 24 hours. This accumulation suggests that large investors have confidence in the mid-term price uptrend of $SUI .

3. Technical analysis

• RSI Indicator: Near the 70 level, indicating the market is approaching an overbought state but has not yet shown strong reversal signals.

• Moving Average (MA): The current price is above both the 50-day MA and the 200-day MA, confirming a mid-term uptrend.

• Trading volume: Remains high, reflecting positive cash flow.

4. Investment conclusion

SUI is in a strong growth phase, supported by both whale cash flow and technical indicators. However, caution is needed as the RSI is approaching the overbought zone. If you are investing, consider the price range below 3.70 USD to optimize profits.

🔥 Advice: Closely monitor on-chain data and the next resistance levels (4.0 USD) to adjust strategies in a timely manner.