The post From $0.48 to $5.35: Can Sui Price Maintain Its Meteoric Rise? appeared first on Coinpedia Fintech News
While the cryptocurrency market struggles to regain momentum, the Sui price has recorded a remarkable price action over the past few days. Reportedly, this project has jumped 20% in 10 days, resulting in it outperforming top altcoins such as Ethereum, Solana, Ripple, Cardano, and Dogecoin.
With a constant uptrend in its rising channel pattern in the daily time frame, will Sui attempt to achieve a new all-time high this weekend? In this article, CoinPedia’s expert panel answers questions like “How high will SUI price go?” and “Is it a good time to invest in Sui crypto?”
SUI Coin Price Records Increased Bullish Action!
The SUI crypto token has defied all the odds by maintaining its bullish action over the past week. The Sui price has formed a rising channel pattern and has continued trading within it since the beginning of November 2024.
Furthermore, this Layer-1 project has achieved vital milestones. Notably, this project has crossed the $2 billion mark in terms of Total Value Locked (TVL). moreover, with 69.75% of tokens or 6.98 billion SUI tokens locked, this altcoin is still considered to be highly undervalued.
Sui Technical Sentiments
The Relative Strength Index (RSI) continues hovering above the neutral point in the daily time frame. Moreover, its average trendline constantly supports the price trend. This suggests a positive outlook for the Sui coin price in the coming time.
On the other hand, the SMA indicator is on the verge of experiencing a bearish convergence in the Sui price chart. This suggests a mixed price sentiment for the 12th largest cryptocurrency by market cap.
Will SUI Price Hit $6.60 This January 2025?
Suppose, the Sui coin price continues its upward trend. In that situation, this altcoin could retest its ATH of $5.35. Maintaining the price above that level could set the stage for this altcoin to test its upper price target of $6.60.
On the contrary, if a trend reversal occurs, the SUI crypto could plunge below its important support level of $4.75 and retest its support trendline of the rising channel pattern. Furthermore, if the bearish sentiment intensifies, this could pull the price of Sui token toward its $4.50 mark.
To find answers to questions like “Does Sui Crypto have a future?” Read CoinPedia’s Sui Price Prediction 2025 – 2030 and up until 2050!
FAQs
With a 910% return from its August 2024 low, this altcoin is constantly under the radar of top institutes and investors. This makes it a potential pick for long-term investment.
For the Sui coin price to achieve this price target, it will require a surge of 1,932% in its present valuation.
With a 24-hour trading volume of $2.03 billion, this altcoin is exchanging hands at $4.9202.
