What’s next for the $SUI price rally? - CoinPedia Analytics

Bitcoin's rise above $66,000 reignited optimism in the crypto market, yet its slow movement has diverted attention to altcoins like SUI. Despite BTC's stagnation, SUI has surged, driven by strong liquidity, crossing the billion-dollar mark. The price remains above crucial support, but concerns linger due to possible pullbacks. Typically, after sharp rallies, bulls show exhaustion, leading to corrections, and current technical indicators hint at bearish sentiment.

In the short term, SUI maintains a bullish trajectory, holding within the rising parallel channel. Additionally, the stochastic RSI nearing the lower threshold signals a potential rebound. However, if the price loses momentum and falls below the channel, levels could dip towards $2. On the upside, if the current trend holds, SUI could aim for a new all-time high (ATH) above $2.45 in the near future.