The SUI price triggered a strong reversal before the daily close, pushing the levels back within the bullish zone. The token had entered a phase of tightening price action, hinting at a potential breakout or breakdown. In the times when the broader market sentiments remained uncertain, the current reversal presents a compelling case for the bulls. However, a continued upswing above the key ranges could validate a rise to $3.75 or levels above.
Now, the question arises whether the bulls will continue to hold a tight grip over the rally.
The token is demonstrating huge strength as it reversed the bearish pattern of H&S, which was speculated to drag the levels below $2.5. With this, the token continues to demonstrate a potential of a 90% upswing that could elevate the levels towards new highs. Meanwhile, in the short term, the bulls appear poised to push the price above $5 as the token is poised to validate a ‘Golden Cross.’
The rebound from the local support hinted towards the growing dominance of the bulls; moreover, the bullish crossover of the 50/200 MAs validated the bullish claim. The previous Golden cross resulted in a 350% rise, which helped the SUI price to form a new ATH around $5.3 and hence a similar price action is expected. Meanwhile, the MACD shows a drop in selling pressure, being within the bullish range, while the other indicators raise some concerns.
The RSI is hovering around 44.83 and is about to rise above the RSI-based MA. If it rises above the range, it could validate a bullish continuation, while the drop in CMF levels points towards bearish continuation, as it hints towards a decrease in the money flow onto the platform. Only if the levels rise back above 0 can a bullish continuation occur. For this, the SUI price is expected to secure the levels above $3.5, which may push the price to $4.
Therefore, the SUI price prediction in the long term is bullish, but the short-term forecast remains shady.
XRP is making headlines again, and this time it’s not just about price action. Crypto…
Two cryptocurrencies, Dogecoin and Pepeto, are making headlines in the crypto world. Dogecoin (DOGE) has…
XRP catapulted to $3.84 ATH from its low price—an increase that turned a modest $4,000…
A veteran Wall Street analyst believes that XYZVerse could surpass both ONDO and PI Network…
CoinDCX, one of India’s largest crypto exchanges, has reportedly lost around $44.2 million in a…
XRP is back in the spotlight as excitement grows around its future. With talks of…
