SUI price makes a new all-time high but its getting overextended. How much more room to the upside before it reverses?
Key Takeaways
- SUI’s uptrend is nearing the final wave of ascent.
- RSI shows overbought conditions, signaling a potential slowdown.
- Based on Fibonacci extensions, the price may peak at around $3.77 to $4.
SUI’s price reached an all-time high of $3.54 today after breaking above the symmetrical triangle earlier in November.
According to some indicators, the price is overextended, so the main question is how much it can go before reversing.
SUI Price Analysis
SUI reached its last all-time high of $2.20 on March 28 before undergoing a prolonged decline.
It bottomed out at $0.46 on Aug. 5, the same level that marked the beginning of the previous uptrend.
This 79% drop pushed SUI into oversold territory, as the daily Relative Strength Index (RSI) indicated. A new uptrend followed, with SUI achieving a higher high of $1.10 on Aug. 12 and a higher low of $0.74 on Sept. 6.
From there, SUI surged to a new all-time high of $2.37 on Oct. 14, although momentum began to weaken within an ascending channel. Bearish RSI divergence suggested a potential reversal, leading to a 32% drop to $1.60 on Oct. 28.
This was followed by a quick rebound to $2.12 and the formation of a symmetrical triangle around $1.82.
This symmetrical triangle is counted as wave 4 from a five-wave rise, meaning its latest move is the ending wave.
Today, SUI reached a new all-time high of $3.54, but momentum is slowing down. The daily chart RSI is again in the overbought zone, so how much does SUI have room for the upside?
SUI Price Prediction
SUI began a new uptrend after completing its ABC correction in a symmetrical triangle and falling to a low of $1.60 on Oct. 28.
Its first high was at the descending resistance, while its next higher low, at $1.80 on Nov. 4, validated the ascending support.
The next move to $3.32 on Nov. 11 was wave three, while the subsequent downfall to $2.88 concluded wave four.
This means that SUI is in the ending wave but has slightly more room for the upside. The Fibonacci extension tool can spot some horizontal levels as potential ending points.
As wave three was the strongest, wave five should be shorter. This is why the 0.618 Fib level at $3.77 could be the endpoint of the current rise, but it could also continue slightly above $4, which would be its maximum.
Sui Price Prediction 2025: SUI Hits New All-time High, What Next?
