SUI Price Prediction: Sui (SUI) May Spike to the Upside

The Sui price prediction is trading around the resistance level of $3.49 as the coin hovers around the 9-day moving average.

Keep an eye on the resistance level of $3.49 as the Sui price stalls at the 9-day moving average.

The SUI price has demonstrated remarkable growth from its all-time low, surging over 855.59% and capturing the attention of traders. Despite trading below its all-time high of $3.93, which was achieved on November 17, 2024, the coin's price range between $3.36 and $3.55 indicates ongoing market interest. This performance highlights the potential rewards of identifying and investing in promising projects early, making SUI a noteworthy example of significant growth in the crypto space.

Key Levels for SUI/USD

Resistance levels: $4.50, $4.55, $5.00

Support levels: $2.50, $2.45, $2.40

The daily chart for SUI/USD shows a market structure that is favorable for the bulls, exhibiting classic signs of a bullish reversal. After testing and reclaiming the support at $3.00 and $2.95, the token showed a strong bounce, indicating robust buying interest. This pattern aligns with traditional reversal signals where the price dips below key support, gathers liquidity, and then reclaims the level to initiate upward momentum. Despite this bullish breakout above the downtrend, the broader market conditions, including Bitcoin’s price action, play a crucial role in determining the sustainability of SUI’s rally.

Sui Price Prediction: Sui (SUI) May Spike to the Upside

From a resistance perspective, the $3.40 – $3.50 range remains a critical zone to watch. If SUI fails to maintain above this level, it may pull back to consolidate or test lower support levels before any significant upward move. Conversely, a strong increase in trading volume from the $3.40 region could invalidate bearish expectations and set the stage for a move toward $4.00 or higher. However, given the current state of the market, consolidation seems more likely in the near term.

At the time of writing, the Sui price is currently exchanging hands at $3.49, and any attempt to make it cross below this level may likely open the doors for more downsides, and the price could spike below the $3.00 support level. However, traders may need to keep their eyes on $4.00 before creating a new bullish trend at the resistance levels of $4.50, $4.55, and $5.00. Meanwhile, it is likely for traders to experience a quick buy once the trade reaches the support at $2.80, but, if the price fails to rebound, a bearish breakdown would trigger more selling opportunities for the market, which might cause the price to locate the critical supports at $2.50, $2.45, and $2.40.

SUI/BTC Consolidates below the Moving Averages

Against Bitcoin, the Sui (SUI) is moving sideways within the channel. If the selling pressure resumes in the market, the Sui price may bring a new low into the market. Presently, the technical indicator the 9-day crosses below the 21-day moving average; more negative moves may come into play if the coin crosses below the lower boundary of the channel.

However, traders may expect close support below the moving averages at 3000 SAT SAT before breaking to 2700 SAT and below. Meanwhile, if a bullish movement surfaces, validating a break above the 21-day moving average may confirm a bullish movement, and the nearest resistance level may be located at 4700 SAT and above.

Moreover, with a following of over 144k on X (formerly Twitter), @CryptoBullet1 shared an analysis of the $SUI 1D chart, highlighting the importance of realistic expectations and healthy pullbacks. Based on their Elliott Wave (EW) count, the recent Wave 4 correction appears complete, setting the stage for a potential move toward the next target range of $4.7 to $5.2.

$SUI #SUI 1D chart

I know you guys wanna see 'up only' but let’s be realistic – pullbacks are healthy.

According to my EW count, we've finished this w4 small correction and we're heading off to my next target – $4.7-5.2 🎯 pic.twitter.com/YzUsdQKzJE

— CryptoBullet (@CryptoBullet1) November 26, 2024

Sui Alternatives

While the SUI/USD pair hints at a potential bullish breakout, current market conditions favor a short-term consolidation phase. In the meantime, Pepe Unchained is making significant strides in the cryptocurrency space, transitioning from a meme