In this Sui (SUI) price prediction 2024, 2025-2030, we will analyze the price patterns of SUI by using accurate trader-friendly technical analysis indicators and predict the future movement of the cryptocurrency.
Sui (SUI) Current Market Status
What is Sui (SUI)
Sui is a smart contract platform maintained by a permissionless set of validators that play a role similar to validators or miners in other blockchain systems. It has a native token called SUI, used to pay for gas, and users can stake their SUI tokens with validators in a Delegated Proof-of-Stake model within an epoch. It takes a significant leap in scalability by enabling parallel agreement on casually independent transactions.
Sui 24H Technicals
Sui (SUI) Price Prediction 2024
Sui (SUI) ranks 33rd on CoinMarketCap in terms of its market capitalization. The overview of the Sui price prediction for 2024 is explained below with a daily time frame.
In the above chart, Sui (SUI) laid out a horizontal channel pattern. A horizontal channel or sideways trend has the appearance of a rectangle pattern. It consists of at least four contract points. This is because it needs at least two lows to connect, as well as two highs. Horizontal channels provide a clear and systematic way to trade by providing buy and sell points. The longer the horizontal channel, the stronger the exit movement will be. There is frequently a price on the channel after exit. The exit often occurs at the fourth contact point on one of the horizontal channel’s lines.
At the time of analysis, the price of Sui (SUI) was recorded at $0.9718. If the pattern trend continues, then the price of SUI might reach the resistance levels of $1.1220 and $1.5473. If the trend reverses, then the price of SUI may fall to the support of $0.7098.
Sui (SUI) Resistance and Support Levels
The chart given below elucidates the possible resistance and support levels of Sui (SUI) in 2024.
From the above chart, we can analyze and identify the following as the resistance and support levels of Sui (SUI) for 2024.
Sui (SUI) Price Prediction 2024 — RVOL, MA, and RSI
The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of Sui (SUI) are shown in the chart below.
From the readings on the chart above, we can make the following inferences regarding the current Sui (SUI) market in 2024.
Sui (SUI) Price Prediction 2024 — ADX, RVI
In the below chart, we analyze the strength and volatility of Sui (SUI) using the following technical analysis indicators — Average Directional Index (ADX) and Relative Volatility Index (RVI).
From the readings on the chart above, we can make the following inferences regarding the price momentum of Sui (SUI).
Comparison of SUI with BTC, ETH
Let us now compare the price movements of Sui (SUI) with that of Bitcoin (BTC), and Ethereum (ETH).
From the above chart, we can interpret that the price action of SUI is similar to that of BTC and ETH. That is, when the price of BTC and ETH increases or decreases, the price of SUI also increases or decreases respectively.
Sui (SUI) Price Prediction 2025, 2026 – 2030
With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of Sui (SUI) between 2025, 2026, 2027, 2028, 2029 and 2030.
Conclusion
If Sui (SUI) establishes itself as a good investment in 2024, this year would be favorable to the cryptocurrency. In conclusion, the bullish Sui (SUI) price prediction 2024 is $2.1554. Comparatively, the bearish Sui (SUI) price prediction for 2024 is $0.4636.
If there is a positive elevation in the market momentum and investors’ sentiment, then Sui (SUI) might hit $3. Furthermore, with future upgrades and advancements in the Sui ecosystem, SUI might surpass its current all-time high (ATH) of $2.18 and mark its new ATH.
This content was originally published by our partners at The News Crypto.