$SUI Technical Analysis and Upcoming Levels - CoinPedia Analytics

According to expert technical analysis, SUI is currently trading at a crucial $2 level, where it previously experienced a dramatic 50% price drop. With an increasing number of short positions being opened, a similar drop seems likely unless certain bullish thresholds are met. Recent price action suggests that SUI needs to close the daily candle above $2.2 to avoid further declines. Failing to do so could lead to a 20% drop, pushing the price down to $1.62.

Additionally, the Relative Strength Index (RSI) is currently in the overbought zone, signaling that a price correction may be on the horizon. Traders should remain cautious as the overbought conditions could trigger a sell-off. However, if SUI manages to hold above the $2.2 level, there is potential for a bullish breakout, possibly leading to new highs in the near future.