"Warning! SUI price may get out of control, miss this opportunity and you will regret it for life!"
Since the downturn in early August, SUi has experienced a remarkable recovery, with its price soaring by more than 150%, showing a strong rebound momentum. However, this recent upward trend seems to have slowed down slightly, triggering market attention and discussion about its subsequent performance.
Price trend analysis:
SUI took off from the bottom of $0.5, not only regaining lost ground, but also breaking through several key resistance levels, including $1.2, a strong resistance zone formed in the second and third quarters. Entering September, its increase has been close to 60%, showing the market's strong confidence in it. Analysts such as Raoul Pal pointed out that SUI's price chart has shown signs of a sharp rise, suggesting that it may surpass the performance of other mainstream crypto assets such as SOL in the future.
Short-term goals and challenges:
Currently, SUI is trying to turn the resistance zone of $1.05-1.13 into a support zone. If successful, it may move further towards the target of $1.4, which means a potential 24% profit space. However, technical indicators such as RSI and Stochastic RSI also issued warnings, pointing to possible overbought conditions in the market ahead of the Fed's rate decision, and any move below $1 could undermine the current bullish outlook. In this context, the area above $0.8 has become a key support level, which is crucial to maintaining the upward trend of SUI.
On-chain activity and potential risks:
Although SUI's network growth and DeFi activities (such as a surge in DEX trading volume) have significantly strengthened after the price breakthrough, data from the past three days shows a significant decrease in the number of active addresses, which may indicate a slower recovery. This change reminds us that although fundamental and technical analysis provide an optimistic outlook, market dynamics and investor sentiment cannot be ignored, and they may have a significant impact on price movements.
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