SUI Price To 2X This AltSeason As Indicators Turn Bullish?
The Sui token has gained a lot of attention in the cryptocurrency market, with its price increasing by an impressive 800% in approximately 100 days. Notably, this altcoin has surged approximately 120% since November 1, highlighting the increase in adoption.
However, investors are curious about what is driving the rise in Sui gold prices this month. Additionally, as Sui price reflects Solana’s 2021 bull run, investors are paying close attention to the cryptocurrency’s price action.
SUI price pulls back after hitting new ATH!
Despite a minor correction in the past 24 hours with a trading volume of $2.381 billion, this altcoin has surged 54.39% in the past 30 days. Additionally, its portfolio has increased by more than 800% since the August lows, outperforming the top cryptocurrencies.
Moving Average Convergence Divergence (MACD) shows a rising green histogram on the 1D time frame. Furthermore, its moving averages are recording bullish convergence on the Sui price chart. This shows that there is strong buying pressure on altcoins in the cryptocurrency market.
Additionally, the SMA indicator has been supportive of the 16th largest crypto token for over a month, indicating a bullish long-term outlook for the altcoin.
Will SUI price hit $5 this week?
If bulls regain momentum, gold prices will be ready to retest resistance at $4.75. Sustaining prices at this level could set the stage for the altcoin to break above the $5 mark and head towards a higher price target of $5.25 this month.
Conversely, if a bearish trend reversal occurs, the Sui crypto token may retest its $4.4 levels. Furthermore, if bearish sentiment intensifies, it could lead to a drop towards lows of $4.
Wondering if the price of Sui will hit $10 this altcoin season? Read CoinPedia’s Sui Price Forecast Until 2030, possible mysteries are revealed!
FAQ
After setting a new ATH of $4.86 yesterday, Sui price fell by approximately 5% in 24 hours.
Sui has a 24-hour trading volume of $2.362 billion and is currently trading at $4.6058.
As adoption increases, the price of Sui Coin may reach a high of $23.77 by 2030.
