Sui (SUI) has a fully diluted valuation of $5,910,095,209, according to the crypto data and information website Coingecko. This is a hypothetical market cap, assuming all 10 Billion SUI tokens are circulating today. However, the actual FDV may take years to reach, depending on how the SUI tokens are distributed over time.
As per Coinmarketcap, Sui crypto plummeted by 1.81% in market value and plummeted by 38.50% in trading volume in the last 24 hours. Its market value is $427,136,189 and its trading volume is $76,466,102. There are 723,162,190 SUI in circulation.
Sui Coin’s (SUI) open interest is $67.79 Million. As per Coinglass, another crypto analysis website, it fell by 2.12% in the previous session. The long versus short ratio for 24 hours is 0.8975. The total number of short positions added in the last 24 hours is $7.96K against longs of $64.88K.
Moreover, the Sui coin has shown poor performance this month, as it is down by 10.08% and by 50.63% in the past six months.
SUI Price Technical Analysis in 1-D Timeframe
The price of the SUI coin has been falling for the last three months, losing 50.63% of its value. At the moment, the SUI price is $1.8668 and making lower highs and lower lows and facing resistance from the trendline which prevents the price to go higher.
This means that the SUI coin price might keep going down and reach the first and second targets of $0.5629 and $0.4738 if it does not hold the current level. However, if the SUI price stays at the current level and goes up, then it could hit the closest resistance levels of $0.7390 and $0.8716.
The SUI coin price (BITSTAMP: SUI) is below the 20 and 50-day EMAs (exponential moving averages) at the time of publishing, which is pushing the SUI coin price down. Therefore, the Sui price prediction expects the prices to go down giving negative views over the daily time frame chart.
The MACD line at 0.0279 and the signal line at 0.0252 is below the zero line and gave a bearish crossover, suggesting bearish signals. The current value of RSI is 35.58 points and the 14 SMA is below the median line at 38.16 points which indicates a downward direction and bearish sentiment in the market of SUI coin.
Conclusion
The SUI price prediction shows the feelings and opinions of investors and traders about the Sui coin price being low in the 1-D time frame. The SUI price movement shows a negative view at the time of writing. Also, the technical factors of the Sui price suggest the downtrend will continue over the daily time frame chart. Major reliable indicators MACD, RSI, and EMA, give negative signals about the Sui coin price.
Technical Levels:
- Support Levels: The nearest support levels are $0.5629 and $0.4738.
- Resistance levels: The nearest resistance levels are $0.7390 and $0.8716.
Disclaimer
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2023/08/08/sui-price-prediction-2023-is-downtrend-over-in-sui-coin-price/