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- 1 The Sui crypto price is up over 5.51% in the past 24 hours and was trading at $0.8332 at press time.
- 2 The SUI price technical analysis highlights the formation of a double top pattern over the daily chart.
Sui is a blockchain platform and a cryptocurrency that aims to make digital asset ownership fast, private, secure, and accessible. It uses the Move programming language to create objects, which are smart-contract programmable entities that store data and can be executed in parallel.
Moreover, it has a scalable processing and storage system that can handle large amounts of data at low cost. It is designed to support various applications and enable developers to build user-friendly experiences.
Sui uses two consensus algorithms: Narwhal and Bullshark (or Tusk). Narwhal ensures data availability, while Bullshark (or Tusk) orders the data for the consensus engine. This is based on a DAG mempool, which is a novel way of organizing transactions. Furthermore, It claims to achieve very high transaction speeds, over 297,000 transactions per second.
Sui crypto price daily chart demonstrates the formation of a double top pattern after the price failed to close above the previous high and dropped. The price currently trades near the recent swing high and suggests a bullish outlook in the short term.
Moreover, the long term trend also supports the buyers as SUI crypto is headed higher forming a bullish trajectory. The daily chart also witnesses a bullish crossover of the EMAs suggesting a strong trend prevailing.
At the time of writing, the RSI was at 57.98 and the SMA line was at 63.37. The RSI line has made a bearish cross of the SMA line indicating bearish sentiments in the short term.
Sui Price Prediction 2024
The price prediction of SUI crypto for 2024 shows that the analysts are bullish about the price trend and expect the price to reach a high of $1.422 by the year end. Moreover, the bearish view of analysts expects the price to reach $1.085 by 2024.
Sui Price Prediction 2025
The most optimistic analyst forecast for the Sui coin expects the price to reach a high of $1.945 with a potential gain of 132% from the CMP. The minimum forecasted price by the end of 2025 is $1.403.
Sui Price Prediction 2026
Over the next two years, the Sui crypto may attain a high of $2.38. Whereas the lowest price that the crypto may attain is $1.844.
Sui Price Prediction 2027
The most optimistic price target that the SUI crypto may achieve by 2027 is $2.92. On the other hand, the lowest price target is $2.251.
Sui Price Prediction 2028
Till 2028, the overall crypto market may see more exposure and evolve more. On the most optimistic side, the SUI crypto price may reach a high of $3.480. On the flip side, the most pessimistic price that SUI crypto may attain is assumed at $2.883.
Sui Price Prediction 2029
As per the analysts, SUI price may rise as high as $4.122 by the next five years. However, the pessimistic view of analysts expects the price to reach $3.420.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
