The doubled in value in September despite the broader market consolidation. The bull run has stretched the altcoin price away from even a fast-moving 20- and 50-day EMA. This scenario often indicates instability, as a market trend never stays in a particular direction.
Another technical indicator shares the same overbought scenario as the Average Directional Index (ADX) spike of 44%, suggesting the buyers could soon hit exhaustion. Thus, the SUI price failure to breach $1.72 resistance could spark the post-rally correction and plunge the asset 15% down to hit $1.44 support. The breakout below this support could accelerate the selling pressure and push the altcoin to $1.11.
