The price of Sui (SUI) is rising in a sideways trend below the $4.40 level.
Buyers are planning to take the price back to its previous high of $5.36. The price movement of the altcoin was hindered because it fell between the moving averages. When the moving averages are broken, the cryptocurrency performs.
Sui price long-term prediction: bullish
Today, the currency is in an uptrend after reaching the 50-day SMA support. The uptrend will continue once it breaks above the 21-day SMA barrier. The altcoin will rise and return to the previous high of $4.40. If the uptrend continues, the altcoin will return to its previous high of $5.36. Conversely, SUI will fall if it drops below the 50-day SMA support. It will fall to a low of $2.82.
SUI price indicators analysis
SUI was trading above the moving average lines before falling below them. The cryptocurrency is limited to a move between the moving average lines. On the 4-hour chart, the price bars are below the downward moving average lines.
Technical indicators
Key supply zones: $4.00, $4.20, $4.40
Key demand zones: $3.00, $2.80, $2.60
What is the next move for SUI?
The price of SUI is moving sideways on the 4-hour chart. The price of the cryptocurrency is moving between the support at $3.30 and the moving average lines or resistance at $3.60.
The altcoin price is stuck in the middle of its price range and between the moving average lines. It will become a trend once the restrictions are broken. However, the altcoin is projected to reach a low of $3.10 before beginning its upward rise.
Disclaimer. This analysis and forecast are the personal opinions of the author. They are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.
Source: https://coinidol.com/sui-coin-stuck/