Home
News
- 1 Sui crypto extended its uptrend on the second consecutive day and climbed 3.45% higher (at press time).
- 2 The Sui crypto suggests a strong outlook above the 20 and 50-Day EMAs.
Sui crypto price gained some positive traction for the second straight day on Tuesday and steadily climbed back higher above the round level of $1.5. Sui crypto extended its uptrend on the second consecutive day, adding a total of 22% in the last two sessions starting the week with a positive bias.
Moreover, the Sui crypto also registered over 25% gaisn last week, signaling a strong outlook for this week. As observed on the weekly chart, an Engulfing candlestick was formed in the last week after snapping the earlier losses.
The Sui price may continue to edge higher as there is more room on the upside. On the upside, $2 may act as a major resistance up to which the price could reach easily.
At the time of writing, the Sui crypto was at $1.628 with an intraday rise of 3.5%. It has a live market capitalization of $1.788 Billion and ranks 45th in the overall crypto market. It has a 24 hour volume of 813.42 Million with a 76% rise over the previous session.
Sui Crypto Price Action Analysis
Moreover, the broader term outlook is bullish as the crypto is rising continuously forming a bullish trajectory. As observed on the charts, the price reversed its direction towards north in November 2023 and turned positive.
The price performance of the past three months shows that the crypto has turned out to be a multibagger for the traders and investors. SUI crypto went up nearly 51% over the past seven intraday sessions.
Also, SUI price has risen over 101.2% in the past one month and has added over 267% in a span of three months.
From a technical perspective, bulls are aggressive and the price is headed higher, surpassing the upper supply levels. The bears have found themselves on the backfoot after the recent price hike and are covering the short positions. The price is likely to thrust higher until it reaches a major supply zone.
The SUI price hovers above all the key EMAs suggesting a bullish outlook in the short term as well as long term. At the time of writing, RSI lines have made a bullish crossover of the SMA line suggesting the continuation of trend in the short term.
Sui Price Prediction January 2024
The most optimistic view of analysts estimates that the SUI crypto may attain a high of $1.72 by the end of January 2024. However, the pessimistic aspect of analysts suggests that the price could drop near a weekly low value.
Sui Crypto Price Prediction 2024
The price forecast for the year 2024 is that the SUI token price could reach a high of $2.688, suggesting a potential gain of over 65.90% if the most positive conditions prevail. Moreover, the bearish outlook of the analysts pegs the price at $2.17 by the year-end.
Sui Price Prediction 2025
By the year 2025, the Sui price may attain $3.901 as the highest price on the positive side. On the flip side, the minimum price up to which the crypto price may rise by the year 2025 is $2.825.
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.
