Sui (SUI) Coin Price Prediction: Will SUI Regain Momentum and Head Toward a New ATH This Q4?

With the Bitcoin price plunging below the $67,000 level, the crypto market has experienced a significant correction in its valuation over the

As the Bitcoin price continues to trade below the $67,000 level, the crypto market has experienced a significant correction in its valuation over the past few days. While some tokens have managed to hold on to their key support levels, others have slipped below them, indicating a strong bearish trend.

Is the Sui coin price gearing up for a rally toward a new ATH in the coming weeks? Or will the price experience a major price correction in the coming time? In this article, we will take a look at the short-term price action of Sui (SUI) cryptocurrency!

Sui Crypto Records A Strong Bearish Reversal!

After achieving a new All-time High of $2.36 on 14th October, the Sui token has recorded a drop of ~23% in valuation. This highlights the increase in the traders selling their holdings to claim the profits.

However, it has jumped 6.21% during the past month and 133.78% this year. Moreover, with a market capitalization of $5.027 billion, it has secured the 21st position in the global crypto list.

The SUI token began its rally in September from a price level of $1.01. Since then, the price has surged by 111.46% to hit a new ATH of $2.36 on 14th October.

Now, let us quickly understand the technical sentiments of the SUI crypto.

SUI Technical Sentiments

The Simple Moving Average (SMA) in the 1D time frame has recorded a bearish convergence. This highlights increased selling pressure for the altcoin in the crypto market.

Further, the MACD indicator shows a significant rise in the red histogram with its averages experiencing a similar price action. This suggests that the SUI price may continue losing value.

Will Sui Crypto Achieve The $3 Mark This Q4?

If the bulls regain momentum, the SUI token will retest its resistance level of $1.9750. Maintaining the price above that level could set the stage for it to head toward its ATH of $2.36 during the upcoming weeks.

On the contrary, if the bears outrun the bulls, the Sui coin price may retest its support trendline of $1.606. Furthermore, if the bearish sentiment intensifies, this could result in it heading toward its lower support level of $1.2375.

Wondering about the long-term price prospects of the 21st-largest cryptocurrency? Head over to our Sui (SUI) Price Prediction to uncover the mysteries!

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