The upward pattern of Sui (SUI) has come to a halt on the $3.60 worth degree.
Sui worth long-term prediction: bullish
During the last 48 hours, the cryptocurrency has been buying and selling above the transferring common traces however beneath the $3.60 degree. The resistance degree has slowed the upward motion. It’s unclear whether or not the altcoin will proceed to rise at its present degree.
On June 10, patrons tried to push the altcoin to the identical resistance degree however have been overwhelmed again. SUI fell to a low of $2.29, beneath its transferring common traces. On the upside, the altcoin will attain a excessive of $4.29 if patrons break above the $3.60 degree.
SUI worth indicators evaluation
SUI’s price bars have been above the transferring common traces for the reason that breakout on July 10. The uptrend has stalled as a result of $3.60 barrier. The altcoin is buying and selling above the 50-day SMA help however beneath the $3.60 barrier. The altcoin will return to the unfavorable pattern zone after breaking the 50-day SMA.
Technical indicators
Key provide zones: $4.00, $4.20,$4.40
Key demand zones: $3.00,$2.80,$2.60
What’s the subsequent transfer for Sui?
The SUI worth is in an uptrend on the 4-hour chart. The first uptrend ended at a excessive of $3.60. The cryptocurrency asset retraced and located help above the 21-day SMA. If the 21-day SMA help holds, the altcoin’s worth will possible rise additional. The cryptocurrency worth will rise and break by means of the $3.60 barrier. The altcoin will fall if the 21-day SMA help is damaged.
Disclaimer. This evaluation and forecast are the non-public opinions of the writer. They don’t seem to be a suggestion to purchase or promote cryptocurrency and shouldn’t be considered as an endorsement by CoinIdol.com. Readers ought to do their analysis earlier than investing in funds.
