SUI dropped 10% in 24 hours, pushing its relative strength index to an extreme oversold reading of 24.73. Technical indicators now point to a short-term rebound toward $0.85, though the relief rally is expected to be brief. The token could then fall to $0.60 as institutional sellers take profits amid retail buying enthusiasm.
Oversold Signal Triggers Rebound
The RSI reading of 24.73 marks severely oversold territory, a level that typically precedes a technical bounce. This 10% daily slide intensified the indicator's position, making a countermove increasingly probable. Such extreme readings are rare in SUI’s recent trading history, signaling pent-up buying pressure.
Resistance at $0.85 Looms
Technical analysis identifies $0.85 as the immediate resistance level where the rebound may stall. This price point represents the first target of the short-term relief rally before downward pressure returns. Traders are watching for volume trends to confirm whether the move gains traction.
Smart Money Exit Expected
Once SUI reaches $0.85, the price is forecast to drop to $0.60 as institutional sellers exit positions. This pattern would see the token lose about 30% from the rally peak, coinciding with retail optimism. The shift from buying to selling pressure could accelerate rapidly at the resistance level.
Next Move in Focus
Traders now monitor SUI’s approach to $0.85, where the next phase of selling is expected to begin. The immediate test of that resistance level will determine whether the predicted downturn to $0.60 unfolds as technical models suggest.
