After an impressive rally that saw Sui nearly break above $4.30, the coin has entered a cooling phase. In the past 24 hours, it dropped more than 8%, with short-term pressure also visible in hourly candles. But zooming out, Sui still holds most of the gains made in July. In the past month alone, it’s up over 35%, and over the past year, nearly 400%.
This kind of fast growth often leads to sharp retracements – and that’s what the chart is showing now. The question is whether this is just a correction, or the beginning of a deeper consolidation phase.
Table of Contents
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Momentum Indicators
RSI: Neutral
RSI is used to check if a coin is overbought or oversold. Today’s RSI(14) has cooled to 53 – down from 67 just a week ago. Shorter-term RSI(7) also fell to 46. These values suggest that buying momentum is slowing, but the coin is not in oversold territory. It’s sitting in a neutral zone that doesn’t give a clear directional hint.
MFI: Weak
MFI adds volume into the mix and helps detect strength behind price movements. The drop from 56 last week to 36 today shows that volume-backed buying has faded. This confirms that recent selling is not just noise – it’s backed by real transactions.
Fear & Greed Index: Greed
Although not Sui-specific, the crypto market’s overall sentiment is still high. The index sits at 73, just slightly below where it was days ago. That means optimism remains – even with Sui pulling back.
Moving Averages
SMA & EMA: Slightly Bullish
The short-term moving averages (SMA(9) and EMA(9)) are still above the longer ones, suggesting that the bullish trend isn’t broken yet. The price is currently trading just below both short-term lines, which might act as resistance if the downtrend continues. But as long as Sui stays above the 26-day averages ($3.63 and $3.69), the broader upward momentum remains intact.
Bollinger Bands: Increased Volatility
With the price sitting near the middle of the bands and still far from the lower support line at $3.35, there’s no immediate threat of a breakdown. The wide band range also confirms that volatility has picked up, which fits with the sharp move earlier this month.
Trend & Volatility Indicators
ADX: Weakening Trend
ADX dropped from 31 to 27 this week. This suggests the recent trend – which was strongly bullish – is losing strength. It doesn’t yet confirm a reversal, but the strong directional momentum from July is clearly slowing down.
ATR: Stable
ATR is holding steady at 0.31. That indicates that recent moves, while sharp, haven’t turned chaotic. Volatility is elevated compared to earlier weeks but not expanding further.
AO: Weakening Momentum
The Awesome Oscillator is showing smaller bars. That confirms what RSI and ADX already hinted – Sui’s bullish momentum is fading, even though there’s no strong bearish pressure yet.
VWAP: Bullish
Today’s price remains above the VWAP of 3.48. That means traders are still willing to buy above average historical prices. It’s a sign that some bullish sentiment is intact – at least for now.
Relative Performance
Comparison Against SOL: Bullish
Sui’s ratio to SOL has risen over both the last week and the last month. The current trend of this ratio is clearly upward, even with the current pullback.
What’s Next?
Technical indicators are sending a mixed but slightly bearish message in the short term. Momentum has weakened, and some early signs of trend fatigue are there. At the same time, the price hasn’t broken below key levels, and broader market sentiment is still in “greed” territory.
Long-term investors might see this dip as a cooling-off period rather than the start of a downtrend. But short-term traders should be careful – the recent price surge has left little room for error, and technical indicators show no strong buy signal at the moment.
As always – technical analysis doesn’t predict the future. It just shows how traders have reacted up to now. Unexpected news, policy moves, or large trades can flip the entire picture overnight.
