Sui Price Prediction for Today, October 27 – SUI Technical Analysis
Release: 2024/10/28 00:24 Reading: 262
Sui Price Prediction:
Sui's recent performance has been characterized by limited growth, failing to break above the upper boundary of its trading channel.
Sui Prediction Statistics Data:
- Current Sui Price: $1.793
- Market Cap: $4.95 billion
- Circulating Supply: 2.76 billion
- Total Supply: 10 billion
- Coinmarketcap Ranking: 21
Sui's Historical Performance:
Since its all-time low of $0.3643 in October 2023, Sui has experienced a remarkable surge of 391.26%. However, in recent weeks, its upward momentum has waned, with a recent high of $2.36 on October 14, 2024.
SUI/USD Market Analysis:
- Key Resistance Levels: $2.50, $2.60, $2.70
- Key Support Levels: $1.25, $1.15, $1.05
Short-Term Price Trend:
SUI is facing a bearish trend due to technical resistance and weakening fundamentals, exacerbated by geopolitical tensions. If SUI fails to reclaim key resistance levels, further declines are possible. However, support around $1.75 – $1.80 could provide some buying interest.
Long-Term Price Outlook:
Should SUI break above the $1.80 resistance mark and maintain momentum, it could face potential resistance levels of $2.50, $2.60, and $2.70. Conversely, if the bears increase selling pressure, it could fall below the channel's lower boundary, locating critical support levels of $1.25, $1.15, and $1.05.
SUI/BTC Price Analysis:
SUI/BTC is also exhibiting a bearish trend. While the bulls may attempt to gather momentum, a bullish movement above the 9-day and 21-day moving averages could push the SUI price towards resistance levels of 3700 SAT and above. However, a break below the channel's lower boundary could bring the price to new lows of 1800 SAT and below.
Sui Price Prediction:
According to market expert @kenshiyesreel, $SUI is in a correction phase with a retracement range of 30% to 50%. This presents a potential buying opportunity for experienced investors, with an anticipated price target of $5-$6.
Sui Alternatives:
PEPE Unchained, a Layer 2 blockchain project for the PEPE coin, has raised nearly $23 million in its ICO. It aims to provide rapid transactions, low fees, and a dedicated block explorer. With a growing developer ecosystem, PEPE Unchained has potential for growth in the blockchain space.
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