Based

bullish

<p>With the BTC price inching closer to the $73,000 mark, the SUI token is back in action. Reclaiming the $2 psychological mark, the altcoin is just $300 million short of completing the $6 billion market cap.&nbsp;</p>  
<p>It has increased by nearly 12% in the past 24 hours and shows a rapid recovery. Will this bullish trend lead to a price jump of more than 100%? Let's find out.&nbsp;</p>  
<h2 class="wp-block-heading" id="h-sui-price-analysis">SUI Price Analysis</h2>  
<p>In the daily chart, the SUI price action shows a falling channel breakout rally, gaining momentum. The bullish reversal started with a quick reversal from the $0.46 mark and now accounts for a price jump of 342% within the last 3 months.&nbsp;</p>  
<figure class="wp-block-image size-large"><img src="https://image.coinpedia.org/wp-content/uploads/2024/10/30121538/image-104-307-1024x509.png" alt="SUI price chart" class="wp-image-374001">
</figure>  
<p><a href="https://www.tradingview.com/x/HFcyaaxX/" target="_blank" rel="noopener noreferrer nofollow">Tradingview</a></p>  
<p>Completing a rounding bottom reversal, the SUI price action shows a constant struggle to sustain dominance above the $2 psychological mark. In a recent pullback, the SUI token took support at the 50-day EMA and a new support trendline. Further, the crucial daily EMAs (50,100,200) maintain a positive alignment.&nbsp;</p>  
<p>Completing a morning star pattern, the 16.82% jump we saw last night makes a massive bullish engulfing candle. Based on the Fibonacci levels, the SUI price is challenging the 100% Fibonacci level and the short-term resistance trendline.&nbsp;</p>  
<p>The RSI indicator shows a bullish reversal, surpassing the 14-day SMA and inching closer to the overbought zone.</p>  
<h2 class="wp-block-heading" id="h-where-s-sui-price-headed">Where’s SUI Price Headed?</h2>  
<p>Considering the altcoin manages to surpass the overhead trendline, the next two price targets are present at $3 psychological and $4.80 at 1.272 and 1.618 Fibonacci levels respectively. On the flip side, a bearish reversal could retest the support trendline near the $1.85 mark or the 50-day EMA at $1.7303.&nbsp;</p>  
<p>Wondering if the bull run in SUI will hit $5 in 2024? Find out now in Coinpedia’s well-rounded <a href="https://coinpedia.org/price-prediction/sui-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">SUI price prediction</a>, and subscribe to us for all the latest updates!</p>

Altcoin Surge Alert: SUI Crosses $2 With 16% Pump, Targets $3!

Table of Contents

CoinPedia News

Other articles published on Oct 30, 2024

Reddit Sells Bitcoin Before Crypto’s Uptober Rally

Bitcoin Masuk Cadangan Florida? Buah Rencana Berani sang CFO

Bitcoin Surges Past 100,000 CAD Milestone

Bitcoin Spot ETFs Records $2.67B in Inflows in Just One Week

Circle Increases USDC Redemption Fees for Users

Surprise Altcoin Announces Partnership with Company Managing Over $1 Trillion in Assets!

Join our free newsletter for daily crypto updates!