Gains

<a href="https://bitcoinworld.co.in/sui-price-increases-10-despite-market-downturn-is-1-50-next/" title="SUI Price Increases 10% Despite Market Downturn – Is $1.50 Next?" rel="nofollow"></a>
<ul> 
 <li>The <a href="https://coinstats.app/coins/sui/">price</a> of SUI has fallen significantly since January 15, validating the $1.40 horizontal area as resistance.</li> 
 <li>However, the price of SUI bounced sharply on January 22, breaking out from a short-term resistance trend line.</li> 
 <li>Despite the breakout, SUI trades inside a horizontal and Fib resistance area. Will it break out or get rejected?</li> 
</ul> 
<h3 id="span-style-font-weight-400-sui-falls-before-all-time-high-span">SUI Falls Before All-Time High</h3> 
The SUI price has fallen since January 15 (red icon), when it just reached a high of $1.45 (red icon). This was only below the all-time high of May. The ensuing drop led to a low of $1 on January 22. 
<figure id="attachment_63369" aria-describedby="caption-attachment-63369" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class=" wp-image-63369" src="https://bitcoinworld.co.in/wp-content/uploads/SUI-Price-Chart-1-483x300.png" alt="" width="596" height="370" srcset="https://bitcoinworld.co.in/wp-content/uploads/SUI-Price-Chart-1-483x300.png 483w, https://bitcoinworld.co.in/wp-content/uploads/SUI-Price-Chart-1.png 760w" sizes="(max-width: 596px) 100vw, 596px">
 <figcaption id="caption-attachment-63369" class="wp-caption-text">
 SUI Price Chart | Source: Coinstats
 </figcaption>
</figure> 
&nbsp; 
The SUI price has increased since, validating the 0.382 Fib retracement support level (green icon) and creating a bullish candlestick the next day. 
The daily Relative Strength Index (RSI) supports the bounce. When evaluating market conditions, traders use the RSI as a momentum indicator to determine whether a market is overbought or oversold and whether to accumulate or sell an asset. 
See Also: <a class="row-title" href="https://bitcoinworld.co.in/solana-meme-coin-dogwifhat-soars-30-on-bitget-exchange-listing-sol-and-bonk-see-gains/" aria-label="“Solana Meme Coin Dogwifhat Soars 30% on Bitget Exchange Listing, SOL and BONK See Gains” (Edit)">Solana Meme Coin Dogwifhat Soars 30% on Bitget Exchange Listing, SOL and BONK See Gains</a> 
If the RSI reading is above 50 and the trend is upward, bulls still have an advantage, but if the reading is below 50, the opposite is true.&nbsp; 
The RSI bounced at 50 simultaneously with the SUI price, legitimizing the movement. 
<h3 id="span-style-font-weight-400-what-are-analysts-saying-span">What Are Analysts Saying?</h3> 
Cryptocurrency traders and analysts on <a href="https://twitter.com/nihilus_XBT/status/1749403069115220110">X</a> are predominantly bullish on the future SUI trend. Nihilus believes the price will bounce and reach $1.50. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <a href="https://twitter.com/search?q=%24SUI&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SUI</a> 30m. 
 – it's time.<a href="https://twitter.com/hashtag/sui?src=hash&amp;ref_src=twsrc%5Etfw">#sui</a> <a href="https://twitter.com/hashtag/SUI?src=hash&amp;ref_src=twsrc%5Etfw">#SUI</a> <a href="https://t.co/XO7iUIsWiU">pic.twitter.com/XO7iUIsWiU</a> 
 — Nihilus (@nihilus_XBT) <a href="https://twitter.com/nihilus_XBT/status/1749403069115220110?ref_src=twsrc%5Etfw">January 22, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
KriyaDEX is bullish on the ecosystem, <a href="https://twitter.com/KriyaDEX/status/1749920477458378938">tweeting</a>: 
“Sui DeFi is thriving. From lending to LSDs to DEXs, there’s an array of opportunities – anticipated airdrops, points, $SUI emissions and much more!” 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 1/n 
 Sui DeFi is thriving. From lending to LSDs to DEXs, there’s an array of opportunities – anticipated airdrops, points, <a href="https://twitter.com/search?q=%24SUI&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SUI</a> emissions and much more! 
 It’s not easy to navigate this ecosystem 
 Solution: Kriya’s 1-click Strats (<img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f9d8-200d-2642-fe0f.png" alt="🧘‍♂️" class="wp-smiley" style="height: 1em; max-height: 1em;">,<img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f9d8-200d-2642-fe0f.png" alt="🧘‍♂️" class="wp-smiley" style="height: 1em; max-height: 1em;">) 
 1-click Strats is a product powered by… <a href="https://t.co/hYUslrifq0">pic.twitter.com/hYUslrifq0</a> 
 — KriyaDEX.sui (@KriyaDEX) <a href="https://twitter.com/KriyaDEX/status/1749920477458378938?ref_src=twsrc%5Etfw">January 23, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
<h3 id="span-style-font-weight-400-sui-price-prediction-where-to-next-span">SUI Price Prediction: Where to Next?</h3> 
The technical analysis of the six-hour time frame does not confirm the trend’s direction. The chart shows that SUI broke out from a descending resistance trend line in place since the high mentioned above. 
However, SUI trades inside a confluence of resistances at $1.23, created by the 0.5 Fib retracement resistance level and a horizontal resistance area. 
The post <a href="https://bitcoinworld.co.in/sui-price-increases-10-despite-market-downturn-is-1-50-next/">SUI Price Increases 10% Despite Market Downturn – Is $1.50 Next?</a> appeared first on <a href="https://bitcoinworld.co.in">BitcoinWorld</a>.

SUI Price Increases 10% Despite Market Downturn – Is $1.50 Next?

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