2024

Coin

The post <a href="https://coinpedia.org/price-analysis/sui-coin-prediction-and-analysis-likely-to-falter-with-selling-pressure/">SUI Coin Prediction And Analysis, Likely To Falter With Selling Pressure</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
Sui, SUI in the year 2024 has been proactive, the asset hit an all-time high of $2.18 in March 2024. The recent Onchain data of Sui Network shows a rise in its daily active addresses and an increase in transactions to 800 TPS,&nbsp; randing from 10,871 TPS to 297,000.&nbsp; 
But, the price action isn’t favorable as the asset has moved -4.46% in 24 hours, -14.23% in 7 days, and -26.287% in a month frame. This comes after a sharp rejection at $1.11 that triggered a troublesome price rally downwards. Well-defended by buyers at the support level of $0.99, the price made a sideway walk for 2 days and finally broke the robust support zone of $0.99.&nbsp; 
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A downward trajectory further led this to form a declined channel pattern where it is now struggling to breach the resistance and come out of the channel.&nbsp; 
New support and resistance are created now at $0.88 and $0.942 respectively. The Relative Strength Index and Stochastic readings hint a s light overselling in the zone. The price trading below all moving averages price levels is a serious concern. Also, the MACD line near zero suggests a neutral price movement, These factors clearly state a more corrective phase will appear with a nominal hold by buyers.&nbsp; 
SUI resurgence is possible&nbsp; 
As per the current downtrend, a resurgence can be expected to happen if the SUI can breach the channel pattern upward and set up the support zone at the higher levels. A Sustained bullish mau even reclaims the curucial resistance of $1,11.&nbsp; 
Traders can keep watch for the price to go below $0.99 to enter the position and also look at the breakout at the $0.999 current price

SUI Coin Prediction And Analysis, Likely To Falter With Selling Pressure

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