SUI Price in Higher High Zone: What's Next?

Sui crypto was trading at $5.12 at press time which has surged by 1.16% over the past 24 hours. The market capitalization was $15.5 Billion and the 24-hour trading volume was $1.32 Billion.

Sui price analysis showcases a bullish trend with rising support on an ascending trendline. During the bull run, SUI price surpassed the last swing high at $4.8 and ascended past the $5 mark. However, the price encountered resistance at $5 and declined by 4.31% over the last two days.

The higher highs and higher lows format has been forming in SUI crypto price. At press time, the price had reached the higher high territory, indicating the possibility of mild selling pressure. However, analysts are optimistic about a bullish rally, aiming for 30% gains.

Momentum is Strong: Can Bulls Chart a 30% Gain Path?

Rose Premium, a crypto analyst, observed strong bullish momentum in SUI crypto. The crypto gained significant bullish momentum from the old support level at $4. In a single momentum, the price reached the $5 mark.

If the price manages to hold above the $5 mark, it may entice buyers, potentially triggering buying momentum. The price is set to hit its first target of $5.3 in a single spike. If buyers remain strong, the price might extend to the second and third targets of $5.79 and $6.28 respectively.

SUI Price in Higher High Zone: What’s Next?

Sui crypto was trading at $5.12 at press time, surging by 1.16% over the past 24 hours. The market capitalization was $15.5 Billion and the 24-hour trading volume was $1.32 Billion.

Based on the chart structure, the previous two candlesticks cleared momentum. However, the recent mild fall could test the crucial level of $4.8; a bounce back can be anticipated.

Once the SUI price manages to hold over the $5 mark, it could be a bullish signal and bulls might be confident. A mild bullish momentum might trigger bullish momentum. Any bullish momentum could lead to a bullish rally.

As the chart shows, the SUI coin price was in the higher high territory and selling pressure can be experienced. If the price forms any bearish candlestick pattern in this zone, a decent fall can be noticed. Amid this situation, the price might melt to the trendline.

MACD has triggered a golden crossover with the Signal line and entered positive territory. The histograms have turned to green which showcases a bullish forecast. RSI was over the RSI-based moving average and heading toward the overbought zone.

SUI Price Overview and Recent Trend

The SUI crypto has demonstrated a strong bullish trend recently, surpassing the significant $5 mark and creating higher highs. Although there was some selling pressure and a slight decline, the overall momentum remained optimistic, with analysts projecting potential price targets of $5.3, $5.79. It might hit the $6.28 mark if buying interest persists.

The technical indicators, including the MACD and RSI, suggested a favorable outlook, indicating strength in the market. However, any bearish patterns could trigger a decline to the support level of $4.8. Maintaining stability above the $5 mark will be crucial for sustaining the bullish rally.

This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading