Ali, known on Twitter as @ali_charts, recently shared insights on the cryptocurrency $SUI. He noted that the asset has experienced a surge of over 145% since September.
However, he highlighted a concerning development: the TD Sequential indicator is now signaling a potential sell on the 3-day chart. This could suggest that a price pullback may be imminent.
$SUI has surged over 145% since September, but the TD Sequential indicator is now flashing a sell signal on the 3-day chart, hinting at a potential pullback! pic.twitter.com/fTabky5blv
— Ali (@ali_charts) October 2, 2024
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In addition to this, the relative strength index (RSI) is currently at 78, indicating that $SUI is in overbought territory. This observation further supports the possibility of a price retracement for the asset.
Pullback to $1.45 Expected: Watch These Key Levels
According to AltFINS, a crypto analytics firm, the analysis of $SUI reveals that the asset is still in an uptrend across various timeframes. Despite the sell signals that suggest a possible pullback, the overall trend remains positive.
The firm outlines a trade setup indicating that the price has resumed its upward movement following a bullish breakout from a Falling Wedge pattern.
Read Also: Here’s Why Kaspa (KAS) Price Has Not Topped Yet
Source: altFINS – Start using it today
Additionally, $SUI has surpassed the 200-day moving average and is now approaching a significant resistance level at $2.00. However, with the relative strength index (RSI) hovering around 80, the asset appears overbought, which could lead to some profit-taking in the near term.
AltFINS suggests waiting for a potential pullback to the support level at $1.45 for another swing trade entry in the uptrend. They recommend setting a price alert for this opportunity.
Overall, AltFINS emphasizes that although there may be short-term pullbacks, the long-term outlook for $SUI remains optimistic.
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The post SUI +140% Price Surge Might Be Ending as Indicators Flash Sell Signals: Here’s the Outlook appeared first on CaptainAltcoin.
