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?

Table of Contents

ItsBitcoinWorld

Alte articole publicate pe 24 ian. 2024

Macbook Crypto Users Targeted By Advanced Malware Attack, Cybersecurity Firm Warns

Magic Eden Announces Reward Program on Solana Network

Donald Trump’s Wallet Value Rockets to $2.5 M with TRUMP Token Surge

Stock market: China in free fall with a staggering loss of 6 trillion dollars

Ripple Lawsuit Against GCC Exchange Reach Confidential Settlement in Legal Dispute

Binance Coin (BNB) Faces Market Turbulence

Join our free newsletter for daily crypto updates!