Sui is a blockchain platform that aims to solve some of the challenges of web3 development and user experience. It has four main features that distinguish it from other blockchains:
Horizontal scaling: Transactions can be processed parallely, avoiding the congestion and delays that occur when transactions are ordered sequentially.
Composability: Sui allows users to pass assets, such as NFTs, directly into functions, and to store assets in complex data structures or within other assets.
Sparse replay: It enables developers to track only the relevant transactions for their applications, without having to query the entire ledger of the blockchain.
On-chain storage: assets as objects are stored on the blockchain, which are cheaper and faster to update than using off-chain solutions like IPFS.
Moreover, Sui also uses two consensus algorithms, Narwhal and Bullshark (or Tusk), to ensure data availability and security. Narwhal is a mempool that filters and organizes the transactions, while Bullshark (or Tusk) is a DAG-based protocol that validates and finalizes them. Sui claims to achieve over 297,000 transactions per second with its scalable architecture.
Sui Price Technical Analysis
The price trend analysis of Sui crypto signifies the weakening of a bullish trend. The bulls are losing momentum near the 200-day EMA. It might invite bears to dominate and shift the price trend in their favor.
Moreover, the price experienced a reversal near the $0.35 level and retested the 50-day EMA in November. The price then surged higher, forming higher highs and higher lows.
The long term trend still favors the bulls. however the short term trend shows weakness in the price momentum, which might be early signs of a reversal. Moreover, the price retested the 50-day EMA multiple times. The bulls may try to add momentum in the price as the price nears i
The RSI shows a neutral outlook. The RSI line has made a negative crossover of the SMA line indicating weakness. However the RSI line is hovering above the mean line indicating a long term optimistic trend.
Sui Price Prediction 2023
The price prediction for 2023 showcases a neutral outlook in the short term, indicating an upside potential of nearly 13.28% by the year end. The optimistic view of analysts estimates that the price could advance to a high of $0.7135. However, the pessimistic view of analysts predicts that the price could drop to $0.504.
Sui Price Prediction 2024
As per our analysts, the most optimistic target that the Sui token may achieve is $47.65; suggesting an upside potential of 97.90% from the CMP. The average analyst price target to be attained is $1.232 by the end of 2024. However, the pessimistic view of analysts expects the price to reach $0.8805.
Sui Price Prediction 2025
According to the most optimistic analysts’ projections, the SUI price could reach up to $2.013 in the next three years as its highest value. The price may surpass $1.774 according to the average forecast of the analysts. The minimum forecasted price by the end of 2025 is $1.522.
Sui Price Prediction 2026
The price analysis for the year 2026 shows that the SUI cryptocurrency may achieve $2.566 as the highest price. The bearish view of the analysts expects the price to reach a low of $1.972 by 2026.
Sui Price Prediction 2027
The most bullish analysts foresee a potential value of $3.391 by the year 2027. A minimum price target that the SUI crypto may achieve by 2027 is $2.860.
Sui Price Prediction 2028
The price forecast of the Sui crypto shows that it may reach a high of $5.157 by 2028 if the most optimistic condition prevails. By 2028, the analysts’ lowest forecast for the Sui is $3.920.
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.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
Source: https://www.thecoinrepublic.com/2023/12/16/sui-price-forecast-will-it-maintain-its-momentum-or-crash/