SUI’s rally is looking for one last stretch as RSI reported its being overbought quite much lately. Meaning the hype will sure chill out sooner than many would expect. Fibonacci math shows that it could reach highest which is expected to range around $3.77 to $4 before its eventual cooldown.
SUI is a native cryptocurrency of the SUI Blockchain. Its a layer 1 blockchain profoundly known for its high speed transactions and scalability. Its token SUI has been on a constant uphill ride. However, the rise is not so celebrated as experts assume its currently on its final wave of ascent and will quickly set down.
Relative Strength Index (RSI) which, as the name suggests, is a popular indicator in trading. It basically measures how much overbought or oversold is an asset and it measures it on a scale of 0 to100. This reliable source, RSI shows major overbought conditions in case of SUI which sharply signals a potential slowdown coming down inevitably. According to some indicators, the price is extremely overextended and the main question is how much it can go before reversing.
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SUI Price Forecast
As of November 11, the price of Sui’s token SUI is $3.29. It holds a 24 hour trading volume of about $2.9 billion. This price means it is still on its uphill ride as it has increased by 0.46% and considering past seven days it has seen a 46.63% price increase. There are total 2.8 billion SUI tokens circulating right now and they hold total market capitalization of about $9.3 billion.
Considering previous waves, this time the Fibonacci level suggests SUI might see its end after reaching $3.77, but there’s still a slight chance it may go a bit longer and reach $4 dollars before it settles down for good.