Key Takeaways
- Sui Current Status: As of August 14, 2024, SUI price is trading at , reflecting a 24-hour decline of 2.2% but a significant 7-day increase of 52%, highlighting recent recovery momentum.
- Market Performance: Sui’s market cap is $2.44 billion, with a circulating supply of 2.59 billion SUI and a 24-hour trading volume of $349 million, indicating active market participation despite recent volatility.
- Technical Analysis: Sui price is attempting to recover from its YTD lows, with current resistance at the psychological $1 level. The Fear-Greed Index sits at 30, signaling cautious market sentiment, while volatility remains at 14.2%.
- SUI Price Predictions: If Sui price can break through the $1 resistance level, it could target $1.5 by the end of August and potentially reach $2.5 by the end of 2024, depending on the reversal of key technical indicators like the death cross.
- Future Outlook: The Sui price’s ability to rise again in 2024 hinges on its success in overcoming the $1 resistance and establishing a golden crossover. Continued market recovery and increasing adoption could support further upward movement, though traders should watch for potential resistance at critical levels.
Where will Sui Price Head Next?
- Early in 2024, Sui price saw a major rally, in line with the broader crypto market rally, gaining over 160% from the beginning of the year to the end of March.
- Since then however, Sui price has been on a bearish trajectory and it has lost all the gains it had made early in the year and then some, falling to YTD lows of around $0.47.
- Since the beginning of August, Sui price has been on a journey of recovery, having more than doubled in value from August lows and is currently trading just under the psychological resistance level at $1.
- Sui price needs to breach the $1 resistance level before it can see a proper recovery coming in, provided that the rally continues long enough for the death cross of the 50-day and 200-day EMAs are reversed into a golden crossover.
- On the upside, we can see targets of over $1.5, if the above parameters are met before the end of the month and even up to $2.5 before the end of 2024.
| Indicator | Value |
|---|---|
|
Support levels (Fibonacci, S1/S2/S3)
|
$0.6 / $0.52 / $0.4
|
|
Resistance levels (Fibonacci, R1/R2/R3) |
$0.85 / $0.92 / $1.05 |
|
50-day EMA |
$0.81 |
|
200-day EMA |
$0.99 |
|
RSI level |
68.29 |
|
MACD level (Signal Line) |
+0.04 |
Sui Price Prediction August 2024
In August 2024, SUI price is expected to maintain a rangebound movement, hovering between $1 and $1.3. The market appears to be in a consolidation phase, with light bullish signals emerging as the highly anticipated “Uptober” approaches. With trading volumes remaining steady and relative strength index (RSI) indicators suggesting mild upward momentum, investors may witness slight price increments. However, the $1.3 level will likely serve as a resistance zone, potentially capping any significant bullish advance. Traders should closely monitor support at $1, as any breach could indicate a bearish trend reversal.
September 2024 is set to witness increasing bullish sentiment for SUI price, with the price predicted to range between $1.2 and $1.7. As the market anticipates the “Uptober” surge, SUI price may experience heightened buying pressure, driving the price closer to the upper boundary of the range. Moving averages are expected to signal a bullish crossover, while momentum indicators like MACD may point towards sustained upward movement. With traders positioning for potential gains, the $1.7 level could act as a short-term resistance. Any break above this resistance might pave the way for a stronger rally in the following month.
October 2024 is anticipated to be a pivotal month for SUI price, with the price potentially breaking out to new highs between $2 and $2.5. The crypto market’s overall excitement during this period, commonly referred to as “Uptober,” is likely to fuel significant bullish momentum. SUI price could break through the psychological resistance at $2, a crucial level that, once surpassed, may lead to rapid gains toward $2.5. Fibonacci retracement levels suggest this range as a target zone, while increased trading volume and strong bullish sentiment may sustain the upward trend throughout the month.
November 2024 may see the continuation of the bullish momentum from October, with Sui price expected to range between $2.2 and $2.6. The spillover from the “Uptober” hype could keep the market in a strong uptrend, with SUI pushing towards new highs. Technical indicators such as the Bollinger Bands might widen, indicating increased volatility as buyers dominate the market. The $2.6 level could act as a resistance point, but if breached, SUI price may enter a new price discovery phase. Traders should keep an eye on volume trends and RSI for signs of potential overbought conditions.
As the year draws to a close, December 2024 might see SUI price stabilizing around the $2.5 mark, following two strong bullish months. While the momentum from previous months could carry SUI price to test the $2.5 resistance, a softer tone might prevail as traders lock in profits, leading to some consolidation. The $2.5 level will serve as a significant psychological barrier, and any sustained move above it might require strong market catalysts. With moving averages potentially flattening, the market could enter a sideways trend, setting the stage for new dynamics in the upcoming year.
Sui Price Prediction 2025
In 2025, SUI price is expected to trade within a range of $4 to $5, marking a period of steady growth. This year may see SUI price capitalizing on the broader adoption of blockchain technologies, which could drive demand for the token. Technical indicators like the Exponential Moving Averages (EMAs) might indicate a sustained uptrend, with the $5 mark acting as a potential resistance level. Should SUI break above this level, it could trigger a further rally, although any pullbacks might find strong support around $4, solidifying this price range as a crucial zone for the year.
The year 2026 could bring some consolidation for SUI price, with its price predicted to range between $3.5 and $5. Following the growth of the previous year, the market may experience periods of profit-taking, leading to some price corrections. The $3.5 level is expected to serve as a solid support, while the $5 resistance may be tested multiple times throughout the year. Market conditions such as changes in global economic sentiment and regulatory developments might influence Sui price movements, but a range-bound scenario with occasional bullish bursts is likely, driven by ongoing adoption and technological advancements.
In 2027, Sui price may experience a more tempered outlook, with the expected range between $2.75 and $4. This year could see the market entering a phase of consolidation or even slight retracement, as the crypto space adjusts to new macroeconomic conditions and market saturation. The $4 level might present a challenging resistance, while the $2.75 support could be tested in the face of broader market corrections. Moving Average Convergence Divergence (MACD) and RSI may indicate a mixed sentiment, suggesting a cautious approach for traders as SUI price navigates a potentially volatile landscape.
The year 2028 could herald a period of renewed bullish momentum for SUI price, with prices predicted to move between $4.5 and $6. As blockchain technology becomes further integrated into various industries, SUI price might experience increased demand, pushing the price towards the upper end of this range. Technical analysis might reveal a strong uptrend, with the $6 level acting as a significant resistance. Fibonacci extensions could highlight potential breakout targets, while the $4.5 support is likely to provide a solid foundation for any price corrections. Traders may find opportunities in this upward trajectory, with market sentiment favoring bullish scenarios.
In 2029, SUI price could reach new heights, with its price expected to fluctuate between $8 and $10. This year might witness significant milestones in SUI’s development and adoption, driving the token’s value higher. The $10 mark may serve as a major psychological barrier, but strong bullish sentiment and increased trading volumes could facilitate a breakthrough. Technical indicators like the Ichimoku Cloud may point to sustained bullish momentum, while support at $8 could act as a safety net during any pullbacks. This period might be characterized by high volatility, offering potential rewards for traders attuned to market shifts.
By 2030, SUI might be positioned as a leading digital asset, with its price anticipated to range between $15 and $18. This year could be pivotal, as SUI potentially benefits from widespread blockchain adoption and integration into mainstream financial systems. The $18 level might emerge as a crucial resistance, with the possibility of SUI entering price discovery if this barrier is surpassed. Technical analysis could reveal strong support around $15, with moving averages pointing to a robust uptrend. As SUI navigates this transformative year, traders and investors might witness significant price movements, reflecting the token’s growing importance in the crypto landscape.
Will the Sui Price Rise Again in 2024?
Will the Sui Price Rise Again in 2024?
The outlook for SUI price in 2024 suggests the potential for a gradual price increase, though it may face several periods of consolidation. Throughout the year, SUI price has demonstrated resilience by maintaining a steady range despite market volatility. As we approach the end of the year, key technical indicators such as the Relative Strength Index (RSI) and Moving Averages hint at a possible bullish continuation, especially as the market anticipates the seasonal ‘Uptober’ rally.
While the broader crypto market remains a crucial factor, Sui price could benefit from increased adoption and network developments. If these factors align, we might see SUI price break out of its current range, with the possibility of challenging its previous highs as the market sentiment turns more favorable. However, traders should remain cautious and watch for any signs of resistance near critical psychological levels.
