Last week, SUI price reached a new historic high, but selling began on Saturday, possibly signaling the start of a bearish trend. Let's explore the reasons for a potential decline and their impact on the market.
SUI Financial Indicators and Potential Decline
SUI price peaked at $4.92 on Friday, followed by profit-taking. The bearish divergence between price and RSI suggests potential selling pressure. A $12 million Sui funds outflow was recorded on Saturday, with a corresponding 6.18% price dip.
Impact of TVL Decline on SUI
The TVL (Total Value Locked) value often correlates with price dynamics. While Sui TVL reached $1.91 billion, the decline in SUI price may be due to investors cashing out profits. TVL decrease does not always indicate increased selling pressure.
Analysts' Interest in SUI Price Growth
Despite current fluctuations, Sui's growth has caught analysts' attention. Among them is Raoul Pal, who considers Sui as the best network in the current bullish cycle. Such positivity may limit downturns and raise Sui's base price despite possible corrections. Experts note institutional investor interest and Sui's growing market cap, now the 16th largest.
Despite the current bearish sentiment, the Sui project continues to attract investor attention due to its growth potential. However, investors should be prepared for possible corrections along the way.
