bullish

when

Note

<p>SUI price just concluded the week with some downside as profit-taking intensified on Saturday.</p> 
<p>This was a day after price achieved a historic high, indicating that this could potentially be the start of a bearish trend.</p> 
<p>There were multiple reasons why a significant SUI pullback was on the cards at the time of writing. The first was the formation of a bearish divergence between price and the RSI.</p> 
<p>SUI price peaked at $4.92 on Friday as hype built up in expectations that the cryptocurrency would rally to the <a href="https://www.thecoinrepublic.com/2024/12/14/can-dogwifhat-price-hit-5-as-open-interest-rises-amidst-whales-prof-taking/">$5 price tag</a>. </p> 
<p>However, this new ATH had its RSI significantly lower than the previous ATH in the first week of December.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full is-resized">
  <img loading="lazy" decoding="async" width="1013" height="585" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-296.png" alt="" class="wp-image-879782" style="width: 100%;height:auto" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-296.png 1013w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-296-300x173.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-296-768x444.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-296-150x87.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-296-696x402.png 696w" sizes="auto, (max-width: 1013px) 100vw, 1013px">
  <figcaption class="wp-element-caption">
   SUI price action / source: TradingView
  </figcaption>
 </figure>
</div> 
<p>A bearish divergence often signals more incoming sell pressure. The probability of such an outcome is usually higher especially when price comes off a rally that pushes into price discovery.</p> 
<p>Unsurprisingly, there was $12 million worth of Sui spot outflows in the last 24 hours. This was a sudden shift from the $16 million inflows recorded on Friday. This sharp about-turn by investors was in line with the 6.18% dip on Saturday.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large is-resized">
  <img loading="lazy" decoding="async" width="1024" height="317" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-298-1024x317.png" alt="" class="wp-image-879792" style="width: 100%;height:auto" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-298-1024x317.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-298-300x93.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-298-768x238.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-298-150x46.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-298-696x215.png 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-298-1068x331.png 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-298.png 1357w" sizes="auto, (max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   SUI spot flows /source: Coinglass
  </figcaption>
 </figure>
</div> 
<p>The sentiment in the derivatives segment also turned bearish after the recent peak. This was evident by the negative funding rates registered on Saturday. Most of the short selling was observed on Crypto.com.</p> 
<h2 class="wp-block-heading" id="h-could-sui-tvl-decline-be-a-precursor-to-a-pullback"><strong>Could SUI TVL Decline be a Precursor to a Pullback?</strong></h2> 
<p>Positive TVL growth almost always goes hand in hand with bullish price action. Sui TVL may have reached a new dollar value peak at $1.91 billion. However, its SUI coin price has been declining since September.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full is-resized">
  <img loading="lazy" decoding="async" width="674" height="326" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-299.png" alt="" class="wp-image-879797" style="width: 100%;height:auto" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-299.png 674w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-299-300x145.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-299-150x73.png 150w" sizes="auto, (max-width: 674px) 100vw, 674px">
  <figcaption class="wp-element-caption">
   Sui TVL / source: DeFiLlama
  </figcaption>
 </figure>
</div> 
<p>Sui TVL in coin value was $781.66 million on 6 September and has since dipped to 403.91 million. This could indicate that more holders have been withdrawing their funds to secure profits.</p> 
<p>On the other hand, TVL decline may not necessarily be a reliable indicator of impending sell pressure. </p> 
<p>For context, Sui TVL in coin value achieved positive growth between April and June. Note that price was bearish during this period.</p> 
<p>The reality of things is that some sell pressure is bound to take place as bullish exhaustion sets in. </p> 
<p>However, the extent of the downside might be limited and this could have something to do with long term prospects.</p> 
<h2 class="wp-block-heading" id="h-sui-price-uptick-grabbing-interest-among-analysts"><strong>SUI Price Uptick Grabbing Interest Among Analysts</strong> </h2> 
<p>Sui crypto is one of the newer additions to the blockchain segment. Robust growth in such a short time frame suggests that the market has embraced this project and its native coin quite well.</p> 
<p>The positive performance has attracted key figures and influencers. Among them includes Raoul pal who expressed positive views about the Sui network especially its latency.</p> 
<figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter">
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Raoul pal says <a href="https://twitter.com/search?q=%24SUI&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SUI</a> Is the best block chain in this bull run.<br><br>What do you think about <a href="https://twitter.com/search?q=%24SUI&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SUI</a>? <a href="https://t.co/VXt9Vgpuzn">pic.twitter.com/VXt9Vgpuzn</a></p>— Crypto University (@TheCryptoU) <a href="https://twitter.com/TheCryptoU/status/1867516565677068670?ref_src=twsrc%5Etfw">December 13, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>Pal also highlighted the Grayscale Sui trust as a major sign of institutional interest in the network. The development highlights the fact that Sui bulls could still show off <a href="https://www.thecoinrepublic.com/2024/12/14/sol-mirrors-bitcoin-ethereum-patterns-can-solana-price-pass-1000-as-activity-booms/">strong in 2025</a>.</p> 
<p>The positive sentiments may limit downside and raise the Sui cryptocurrency’s floor price. However, this does not eliminate the chances of major pullbacks along the way.</p> 
<p>Meanwhile, Sui continues to rise up the ranks as its marketcap grows rapidly and currently occupies the 16th spot. Aggressive growth could see it push closer to the top 10 in the coming months.</p> 
<p>The post <a href="https://www.thecoinrepublic.com/2024/12/15/bearish-expectations-for-sui-price-surge-after-attaining-new-historic-high/">Bearish Expectations For SUI Price After Attaining New Historic High</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.</p>

Bearish Expectations For SUI Price After Attaining New Historic High

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