SUI just hit a new high of $4.92, but there are now bearish expectations in the market. 📉 After the price surge, many investors have started taking profits, which could be an early sign of a downturn.
There are several reasons for this potential pullback. 📊 One is the bearish divergence between the price and the RSI, which often indicates impending selling pressure. In the past 24 hours, there has been a withdrawal of $12 million from SUI after an inflow of $16 million the day before. 💸
Although SUI TVL hit a new high of $1.91 billion, the coin’s value has been declining since September. 📉 This could be an indication that more holders are withdrawing their funds to secure profits. However, a drop in TVL does not necessarily mean there will be major selling pressure.
SUI has caught the attention of many analysts and influencers, including Raoul Pal, who sees positive potential in the Sui network. 🌟 Despite the possibility of a price drop, this positive sentiment could help keep the SUI price from falling too far.
With aggressive growth, SUI currently ranks 16th in the market and could be close to the top 10 in the next few months. 🚀
