SUI Price Prediction: Will SUI Price Trigger a Bull Run to Form a New ATH Above $5?

SUI price is making huge headlines by displaying immense strength regardless of the selling pressure mounted over the crypto markets.

SUI price is making headlines with its strength despite the selling pressure in the crypto markets. After a brief pullback, SUI has started to recover again, which could push prices above major resistance. Once this move is complete, SUI price is expected to create a new ATH, possibly above $5 in the next few weeks. But there is a twist before the 200x rally.

SUI has been leading the markets for the past few days and is one of the strongest cryptos. With over 250% jump since the August bottom, here are some of the reasons that could have driven the bullish sentiments.

What’s Next? Is SUI Price Setting Up For a Bull Run?

SUI price has been maintaining a steep ascending trend ever since the markets faced a huge pullback in the beginning of September. The bears seem to have defended the resistance zone between $1.9 – $1.95 very strongly and as a result, the price failed to clear these levels, despite multiple attempts. Now that the price has broken down from the support trend line and shifted into bearish mode, a 20% – 30% retracement seems to be on the cards.

After the recent rejection, the technicals have shifted in favour of the bears as the RSI is dropping after failing to sustain within the over-bought region. Moreover, the MACD has generated bearish signals with a bearish crossover in the making. Also, the sellers seem to have entered in very high volumes, as the selling volume has outperformed the buying. Hence, the current trade setup suggests that the SUI price may likely drop to the interim support level of $1.44 by this weekend.

If, by any chance, the bulls fail to initiate a rebound here, then the SUI price may drop towards the crucial trend reversal zone between $1.01 – $1.049.

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