SUI cryptocurrency entered the top 100 altcoins, surprising the market with a 110% growth over the last month. Yet analysts caution about possible trend shifts.

SUI's Price Rally and Network Growth

SUI's recent rally began at $0.742 on September 2, reaching a six-month high of $2 on October 4. Interest in memecoins on SUI's blockchain, such as Aaa Cat and Suiba Inu, was a catalyst for this growth. The SUI network registered over 2 billion transactions, increasing TVL by 40% to a record $1.03 billion.

Analyst Warns of a Possible Dip

Despite current successes, analyst Martinez Ali issued a sell signal, pointing to the exhaustion of the current bullish trend. Using the TD Sequential indicator, Ali noted a possible end to the rally and a potential price correction. The RSI also signals weakening momentum.

Factors Influencing Current Trends

If the price falls below $1.70, SUI could drop to $1.50, representing a 20% decrease from its current level. As of this writing, SUI is trading around $1.72 with a market cap of $4.7 billion according to Coinpedia.

Thus, despite SUI's impressive performance over the last month, analysts urge investors to be cautious of potential corrections in the near future.