The upward trend of Sui (SUI) has come to a halt at the $3.60 price level.
Sui price long-term prediction: bullish
Over the last 48 hours, the cryptocurrency has been trading above the moving average lines but below the $3.60 level. The resistance level has slowed the upward movement. It is unclear whether the altcoin will continue to rise at its current level.
On June 10, buyers tried to push the altcoin to the same resistance level but were beaten back. SUI fell to a low of $2.29, below its moving average lines. On the upside, the altcoin will reach a high of $4.29 if buyers break above the $3.60 level.
SUI price indicators analysis
SUI’s price bars have been above the moving average lines since the breakout on July 10. The uptrend has stalled due to the $3.60 barrier. The altcoin is trading above the 50-day SMA support but below the $3.60 barrier. The altcoin will return to the negative trend zone after breaking the 50-day SMA.
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 SUI price is in an uptrend on the 4-hour chart. The first uptrend ended at a high of $3.60. The cryptocurrency asset retraced and found support above the 21-day SMA. If the 21-day SMA support holds, the altcoin’s price will likely rise further. The cryptocurrency price will rise and break through the $3.60 barrier. The altcoin will fall if the 21-day SMA support is broken.
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-on-verge/