Despite increased price volatility in the crypto market, the SUI price has outperformed the top crypto projects by successfully achieving a new All-time High (ATH) during the early Asian trading hours. Notably, it has recorded a high of $2.28 with a trading volume of $1.18 billion.
Furthermore, will the Sui price maintain its momentum and achieve the $3 mark this Q4? In this article, we have covered the short-term market sentiments and price analysis of the Sui crypto token.
SUI Crypto Records Increased Bullish Action!
The SUI price has jumped ~12% in the past 24 hours and 28.79% over the past week. Moreover, it has surged 119.28% during the past month and has rewarded its long-term investors with a Year-to-Date (YTD) return of 186.13%.
The Moving Average Convergence Divergence (MACD) displays a constant rise in the green histogram. Further, with its averages showing a constant uptrend, the SUI coin hints at a positive outlook in the coming time.
Moreover, the SMA indicator constantly supports the price chart in the 1D time frame. This highlights that the altcoin may continue gaining value this week.
How High Will SUI Go?
If the bulls continue gaining momentum, this could result in the price of the token heading toward its upper target price of $2.5 in the coming time. Maintaining the price at that level could set the stage for it to head toward its high of $3 this year.
On the contrary, if the bears regain power, the SUI coin price could plunge toward its support of $2. Moreover, if the bearish sentiment intensifies, this could result in it retesting its lower support level of $1.9750.
Wondering about the long-term prospects of this Sui token? Read, our Sui Price Prediction 2024 – 2030
