The price of Sui (SUI) has fallen to a low of $1.83 and continues to move sideways.
SUI price long-term prediction: ranging
The cryptocurrency reached its lowest price level on November 4. On April 7, SUI dropped as low as $1.71. Bulls bought the dips on April 7, prompting the altcoin to begin rising. Currently, the SUI price is trading near the bottom of the chart. However, further declines are unlikely as it is trading in the oversold region of the market.
Today, SUI is rising after establishing support above the $1.80 low. Once the altcoin breaks above the 21-day SMA, it will resume its bullish trend. The altcoin has reached a high of $2.06.
Technical indicators
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Key supply zones: $4.00, $4.20,$4.40 -
Key demand zones: $3.00,$2.80,$2.60
Sui price indicator analysis
The moving average lines are sloping downwards as the price pauses near the bottom of the chart. The 21-day SMA is acting as a barrier to the upward trend. SUI will resume its bullish trend once it breaks above the 21-day and 50-day SMA levels. The price bars are rising but remain below the moving average lines.
What is the next move for Sui?
SUI is increasing after rebounding above the $1.80 support level on the 4-hour chart. The altcoin is currently trading above the $1.90 support level but remains below the moving average lines. SUI will maintain its bullish momentum once it breaks above the moving average lines; otherwise, it will continue its range-bound movement near the bottom of the chart.
Disclaimer. This analysis and forecast are the personal opinions of the author. The data provided is collected by the author and is not sponsored by any company or token developer. This is 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.