The price of Sui (SUI) has risen above the moving average lines, although it remains in a sideways trend between $3.40 and $4.40.
Sui price long-term prediction: ranging
The crypto price has broken above the 21-day SMA twice after being trapped between the moving average lines. However, the upside is limited by the $4.00 resistance level, and the altcoin is stuck between the 21-day SMA support and the $4.00 resistance level.
The presence of doji candlesticks has caused the price movement to remain stationary. If the initial barrier is breached, SUI will retest its historical highs of $4.40 and $5.15.
On the other hand, if the 21-day SMA support is breached, SUI will fall to as low as $3.40. The altcoin is currently trading at $3.88.
SUI price indicators analysis
The price bars are above the horizontal moving average lines. Candlestick wicks have appeared below the high of $4.00. This indicates selling pressure at the recent high. If the initial $4.00 barrier is broken, the value of the altcoin will rise. Doji candlesticks slow down the price movement.
Technical indicators
Key supply zones: $4.00, $4.20,$4.40
Key demand zones: $3.00,$2.80,$2.60
What is the next move for Sui?
The price of SUI is trading above $3.60 but below the $4.00 barrier. The price bars are above the moving average lines, but the uptrend has been stopped three times at the $4.00 high. The price of the cryptocurrency is currently fluctuating above the 21-day SMA support but below the $4.00 high.
Last week SUI was rising in a sideways trend below the $4.40 level, as CoinIdol.com wrote.
Disclaimer. This analysis and forecast are the personal opinions of the author. They are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.
