$SUI / USDT ANALYSIS
SUI
The SUI token is currently experiencing significant hype and substantial inflow of liquidity, especially with the rise of meme coins built on the SUI network, which have seen explosive gains and generated large profits for investors. Recently, the token has surged by 40%, but a correction is expected on the daily timeframe.
We observe a strong support zone at the $1.1 level, and the token could potentially retest this area. Key levels to watch for upcoming movement include $1.29 and $1.1031. Additionally, the Relative Strength Index (RSI) is indicating a strong overbought condition, supporting the likelihood of a correction.
Thereâs also a fair value gap (FVG) at the $1.29 level, and the price may return to close this gap.In summary, the token has attracted significant liquidity due to the momentum around the SUI network, and in the long term, the outlook remains positive with potential for further growth and upward movement.
However, on the daily timeframe, itâs essential to consider potential challenges and corrections for better positioning.
#SUIđ„
