SUI Price Soars 13%, Reaches $1.50 as RSI Points to Potential Reversal

Sui (SUI) price surged nearly 13% within a week, reaching $1.50 on November 29th. This rebound follows a notable decline that pushed the token into oversold territory on its weekly Relative Strength Index (RSI), signaling a potential shift in market sentiment. Analyst Crypto Patel highlights that SUI bounced near the 0.618 Fibonacci retracement level, a technical support zone often observed in price charts. Patel further noted that the RSI has reached its most oversold point since early 2023, suggesting a possible trend reversal.