Market Analysis

SUI PRICE ANALYSIS & PREDICTION (September 17) – SUI Breaks Above $1 Following 14% Surge, Set For A Massive Gain

Since the price recovered significantly from the bottom last month, SUI has been in an upward range as demand level rises. Its popularity is becoming strong by the day following a steady price growth.

The past couple of weeks have been an interesting period for SUI as it continued to gain traction daily. The bulls appeared back in control after suffering a huge loss over the past months. 

Its latest bullish move was activated by a quick buyback from the $0.46 zone in August after a four-month dip. Rejecting the key $1 level in the late month, the price pulled back and later located support above $0.75. 

It regained momentum and started this month on a positive note. The asset has remained strong ever since as it keeps growing daily despite experiencing a shrink in volatility. 

Today, buying volume increased and the price broke to a new high for the first time in three months. This breakout signalled a short-term rally and as we can see, it is poised for a bigger move while sitting at May’s high at the time of writing. 

If a drop occurs, the price may undergo a small pullback before initiating the rally. It is important to note that the trend has changed on the daily chart following August’s break above the resistance line. A recovery above the yearly $2.2 high should activate a long-term rally.

SUI Key Levels To Watch

Source: Tradingview

Now that SUI is showing strong sign of bullish, the potential resistance level to watch for a test is $1.44 and $1.72. Subsequent resistance level to keep on mind is $2. 

In case of a drop, the nearest level for pullback is $0.9 while the $0.753 support stands as monthly low. Losing it could trigger a roll back to $0.6 and $0.463.

Key Resistance Levels: $1.44, $1.72, $2

Key Support Levels: $0.9, $0.753, $0.6

  • Spot Price: $1.17
  • Trend: Bullish
  • Volatility: High

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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Image Source: tongpatong321/123RF // Image Effects by Colorcinch

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