SUI coin price is expected to experience a short-term decline, but it may still have strong potential in the long run. The latest indicators and trading data suggest the altcoin price may drop briefly and then target even higher levels. If the support holds up, the bullish setups could bring about a notable breakout for the top altcoin.
SUI Coin Price TD Sequential Sell Signal Hints at Correction
Analyst Ali Martinez recently identified a TD Sequential sell signal on the 3-day SUI chart. Since this indicator signals the end of a trend, SUI price is forecasted to have a minor downturn shortly.
Following an impressive rally, the altcoin shot up to almost $4.29, indicating it had made a big comeback from its previous lowest price.
When the TD Sequential forms a sell signal, it means the uptrend is ending and a pullback may be next. If this happens, SUI coin price could drop to the $3.00 to $3.50 support level. In the past, this area was vital for bulls, offering a launchpad for a new higher trend.
Bullish Patterns Point to $4.80 and Higher
Although there could be short-term dips, the long-term trend for SUI price is still positive. Recently, Crypto Gems noted several positive indicators on the 4-hour chart. Several ascending triangles commonly predict that the market will move upward.
The chart indicates that if SUI price overcomes the resistance at $4.50, it might soon reach the target level at $4.80. Breaking past this price point would show that the trend is turning towards an overall bullish one. If SUI coin rises above this level, it could lead to an aggressive rise and may reach $10 in the weeks ahead.
Long-Term SUI Coin Price Targets Up to $20
Adding to the bullish outlook, Crypto Patel noted that SUI price has already surged 130% from its entry around $2.00, recently hitting $4.29. According to Patel, a pullback to the $3.00 region is likely before the next rise.
Patel established that the potential for altcoin to go up or down makes the range between $5 and $20 possible in the future. Should SUI con price hold onto support at $3.00, it may attract more investors and lead to a strong uptrend.
While the overall technical outlook remains bullish, the recent SUI Long/Short Ratio chart revealed a shift in market sentiment. According to Coinglass data, the long/short ratio is 0.9161 and more traders are holding short positions at 52.19% than those holding long positions at 47.81%. This suggests that traders are expecting the market to dip slightly.
Outlook: Path to $10 if Key Levels Hold
For SUI price to reach $10, it must first break through immediate resistance at $4.80 and maintain support above $3.00. They play an important role in confirming that the trend is changing and help draw the attention of new buyers.
Strong structures, increased trading levels, and the aim to reach $20 by many investors showed that SUI could make a big move soon.
Still, traders have to be careful, since losing these important levels could cause sudden reversals or a period of flat trading. However, it is becoming more likely that SUI coin price will rise to $10.
