The price of Sui (SUI) has recovered from a low of $2.29 on June 22 and is back on an uptrend.
Sui price long-term prediction: bullish
The price of the cryptocurrency is making a series of higher highs and higher lows. The coin is now trading at a high of $2.92. The bullish momentum broke through the 21-day SMA barrier, retested it and continued its uptrend. It is likely that SUI will retest or break above the 50-day SMA.
SUI will rise to a high of $3.56 if the bulls break the 50-day SMA. However, if the cryptocurrency falls below the 50-day SMA, it will remain range-bound between the moving averages. SUI is valued at $2.92 at the time of writing.
SUI price indicators analysis
SUI is correcting upwards after breaking the 21-day SMA level. The positive momentum is likely to reach the 50-day moving average (SMA). A break above the 50-day SMA will herald the restart of the positive trend. The price of the altcoin will continue to fluctuate as it is between the moving averages. If the price falls below the 21-day SMA support, the altcoin’s upside scenario is over.
Technical indicators
Key supply zones: $4.00, $4.20, $4.40
Key demand zones: $3.00, $2.80, $2.60
What is the next step for Sui?
SUI has recovered and resumed its uptrend. On the 4-hour chart, the cryptocurrency has stopped below $3.00.
The cryptocurrency is oscillating between the moving average lines while small, uncertain candles appear. This shows the lack of interest from traders in the price action. The altcoin’s uptrend will slow down. The altcoin’s trading range will be limited over the next few days.
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-falls-below/