Points
- Bullish SUI price prediction for 2024 is $1.2434 to $2.0147.
- Bearish SUI price prediction for 2024 is $0.5119.
- SUI might reach $5 soon.
- Comparison with BTC and ETH trends.
Introduction
Sui （SUI） Current Market Status
Sui （SUI） ranks 48th on CoinMarketCap in terms of market capitalization. Launched in May 2023, Sui is a decentralized layer-1 blockchain known for its governance, security, gas fees, and rewards utilities.
What is Sui （SUI）?
Sui is a smart contract platform maintained by a permissionless set of validators. It aims to improve the distribution of educational resources and enhance the mass adoption of blockchain technology.
Sui （SUI） 24H Technicals
Sui （SUI） Price Prediction 2024
Sui （SUI） is currently showing a descending triangle pattern, typically seen as a bearish signal during downtrends. However, if the price breaks out in the direction of the overall trend, it can also be bullish. At the time of analysis, the price of Sui was recorded at $0.8545. If the pattern trend continues, the price might reach the resistance levels of $1.1848 and $2.1801. Conversely, it might fall to the support levels of $0.7639 and $0.5119.
Resistance and Support Levels
The chart below elucidates the possible resistance and support levels of Sui （SUI） for 2024.
Price Prediction 2024 — RVOL, MA, and RSI
The technical analysis indicators such as Relative Volume （RVOL）, Moving Average （MA）, and Relative Strength Index （RSI） of Sui （SUI） are shown in the chart below.
From the readings on the chart above, we can make the following inferences regarding the current Sui （SUI） market in 2024:
– 50-Day Moving Average （50MA）: Nature of the current trend by comparing the average price over 50 days.
– Reading: 50 MA = $1.2376, Price = $1.1543
– Inference: Bearish/Downtrend
– Relative Strength Index （RSI）: Magnitude of price change; Analyzing oversold & overbought conditions.
– Reading: 53.0318
– Inference: Neutral
– Relative Volume （RVOL）: Asset’s trading volume in relation to its recent average volumes.
– Inference: Weak Volume
Price Prediction 2024 — ADX, RVI
The strength and volatility of Sui （SUI） are analyzed using the Average Directional Index （ADX） and Relative Volatility Index （RVI）.
From the readings on the chart above, we can make the following inferences regarding the price momentum of Sui （SUI）:
– Average Directional Index （ADX）: Strength of the trend momentum.
– Reading: 26.0327
– Inference: Strong Trend
– Relative Volatility Index （RVI）: Volatility over a specific period.
– Reading: 65.41
– Inference: High Volatility
Comparison with BTC, ETH
Let us now compare the price movements of Sui （SUI） with Bitcoin （BTC） and Ethereum （ETH）.
From the above chart, we can interpret that the price action of Sui （SUI） is similar to that of BTC and ETH. When the price of BTC and ETH increases or decreases, the price of SUI also follows suit.
Sui （SUI） Price Prediction 2025, 2026-2030
With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of Sui （SUI） between 2025 and 2030.
Year | Bullish Price | Bearish Price
– – | — | —
Sui （SUI） Price Prediction 2025 | $6 | $0.5
Sui （SUI） Price Prediction 2026 | $8 | $0.4
Sui （SUI） Price Prediction 2027 | $11 | $0.3
Sui （SUI） Price Prediction 2028 | $13 | $0.2
Sui （SUI） Price Prediction 2029 | $15 | $0.1
Sui （SUI） Price Prediction 2030 | $17 | $0.09
Conclusion
If Sui （SUI） establishes itself as a good investment in 2024, this year would be favorable to the cryptocurrency. The bullish Sui （SUI） price prediction for 2024 is $2.0147, while the bearish prediction is $0.5119. If the market momentum and investors’ sentiment positively elevate, Sui （SUI） might hit $5. Future upgrades and advancements in the Sui ecosystem might also help SUI surpass its current all-time high （ATH） of $2.18.
FAQ
1. What is Sui （SUI）?
Sui is a smart contract platform maintained by a permissionless set of validators that play a role similar to validators or miners in other blockchain systems.
2. Where can you buy Sui （SUI）?
Traders can trade Sui （SUI） on cryptocurrency exchanges such as Binance, OKX, Bybit, Bitunix, and DigiFinex.
3. Will Sui （SUI） record a new ATH soon?
With ongoing developments and upgrades within the Sui platform, Sui （SUI） has a high possibility of reaching its ATH soon.
4. What is the current all-time high （ATH） of Sui （SUI）?
Sui （SUI） hit its current all-time high （ATH） of $2.18 on March 27, 2024.
5. What is the lowest price of Sui （SUI）?
According to CoinMarketCap, SUI hit its all-time low （ATL） of $0.558 on June 10, 2023.
6. Will Sui （SUI） hit $5?
If Sui （SUI） becomes one of the active cryptocurrencies that majorly maintain a bullish trend, it might rally to hit $5 soon.
7. What will be the Sui （SUI） price by 2025?
Sui （SUI） price might reach $6 by 2025.
8. What will be the Sui （SUI） price by 2026?
Sui （SUI） price might reach $8 by 2026.
9. What will be the Sui （SUI） price by 2027?
Sui （SUI） price might reach $11 by 2027.
10. What will be the Sui （SUI） price by 2028?
Sui （SUI） price might reach $13 by 2028.