bullish

SUI has recently become one of the most hyped chains with a huge potential of going 10x from the current levels. The trading activity surged aggressively which elevated the SUI price above $2. This move also pushed SUI above Near Protocol but remained only for a while. The bears are extracting the profit at the moment but after a drop in the selling pressure, the price is expected to trigger a huge price action to form a new ATH soon.&nbsp;  
As expected, the SUI price flipped after rising above $2, but the market dynamics remain in favour of the bulls. However, the <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">BTC price</a> retested $62,000, causing a retracement in the SUI price rally. However, the token still displays the possibility of a bullish continuation towards $2.25, while the higher targets beyond $3 remain currently out of reach.&nbsp;  
<figure class="wp-block-image"><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXcJ1Ps4XuOfsfpeXdAQd0gGspvldDD8YQh9_nO93H2Uw38ph-thGMOjh0oPzfNvHf1KAA8Xodq3cT1IFEc3NwS0tAtksnTd3uoYkGF_S4_-gQ3BVKkSTNC30L_vcEOgRGMjFBNL8RKlhscbn26PTsDDTtSp?key=6Tl55McywWOqc9dNSTN7pA" alt="">
</figure>  
The price underwent a parabolic recovery and surged above the crucial resistance zone which pushed the token close to its current ATH. However, the technical suggests a major price action could be on the horizon which may cause a fine rise in the price.&nbsp;  
<ul class="wp-block-list">
 <li>The volume has been constantly rising since the start of September which indicates a steep rise in the trading activity which may keep up the volatility</li> 
</ul>  
<ul class="wp-block-list">
 <li>The Bollinger bands have begun to squeeze and in the event of a compression, then the price breaks out in favour of the bulls</li> 
</ul>  
<ul class="wp-block-list">
 <li>The RSI has entered the over-bought and faced a bearish reversal, but it is making every effort to reclaim the lost levels</li> 
</ul>  
<ul class="wp-block-list">
 <li>The MACD remains within the positive range as the buying pressure mounts after facing a small drain for a while</li> 
</ul>  
<ul class="wp-block-list">
 <li>The +Di &amp; -Di was heading for a bearish crossover but the latest upswing has triggered a reversal, suggesting a bullish trend could be nearby</li> 
</ul>  
The SUI price has surged by 142% in the past month, with a jump of nearly 20% in the past trading day. The strong resistance was broken and was also retested. This shows the price is primed to rise, pushing the market capital close to $10 billion very soon.

SUI Bulls Defending the Support: A 50% Jump Could be Imminent if This Trade Plays Out Well

CoinPedia News

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