Amid the rising trend of the DeFi & gaming sector in the crypto space, the Sui price has successfully regained momentum and has jumped over 11.25% over the last 48 hours. With this, its market cap has surpassed the $10 billion mark and is currently valued at $10.83 billion.
By evaluating the present market sentiments, is this a good time to invest in Sui crypto token? Moreover, investors are curious with questions like “How high can Sui price realistically go?” In this article, we bring you the market trends and possible short-lived Sui price analysis!
Sui Crypto Records A Strong Bullish Reversal!
The price of Sui has added 5.38% in 24 hours with a trading volume of $1.824 billion. Moreover, it has jumped 1.79% over the past week, indicating a rising bullish action. However, in the longer time frame, it has lost 23.56% in 30 days and has a YTD return of -14.59%.
The EMA 50-day records a bearish curve in the daily time frame. However, the 200-day EMA acts as a support to the Sui price chart. This indicates mixed price action for the altcoin in the crypto market.
Moreover, the Moving Average Convergence Divergence (MACD) witnessed a rising green histogram in the daily time frame with its averages recording a bullish convergence. This suggests that the price of Sui token may continue gaining value this week.
Will SUI Price Reclaim $5 Mark This Month?
Maintaining the price above the $3.5 mark could set the stage for this altcoin to retest its immediate resistance level of $3.83. Furthermore, if the bullish sentiment sustains, the SUI price could head toward its upper price target of $4.50 in the upcoming time.
On the flip side, a trend reversal could pull the price toward its support level of $3. Moreover, if the bearish sentiment intensifies, this could pull the price toward its lower support level of $2.8850 this month.
Are you one of many who are considering stacking more Sui tokens amid the market correction? Read our latest Sui Price Prediction to uncover the possible long-term mysteries!
FAQs
Suppose, the bulls regain momentum, in that case, the Sui price could reach a maximum trading value of $7.01 this year.
Considering the present market sentiments, it is highly unlikely for this altcoin to achieve this target price.
At the time of writing, the value of one SUI crypto coin was $3.5120.
