SUI Drops and Risks Falling Below $1.30

Sui’s (SUI) price is declining below the moving average lines. The upward correction failed when the cryptocurrency price reached resistance at $1.80.

Sui price long-term prediction: bearish

The price then retraced and tested the 21-day SMA support twice before falling below it. SUI has returned to a trading range above the $1.30 support and below the moving average lines. The altcoin has dropped to a low of $1.39.

On the downside, if the $1.30 support holds, the sideways trend will continue. However, if the $1.30 support is breached, SUI could fall further to its previous low of $0.56. Meanwhile, the altcoin is losing its price level and is approaching the $1.30 support level.

Technical indicators

• 
  Key supply zones: $4.00, $4.20,$4.40

• 
  Key demand zones: $3.00,$2.80,$2.60

Sui price indicator analysis

The downward-sloping moving average lines are now horizontal, indicating a sideways trend. The price bars have dropped below the horizontal moving average lines. On the 4-hour chart, the price bars are also below the horizontal moving average lines. Doji candlesticks have appeared again, suggesting the crypto asset is consolidating.

What is the next move for Sui?

SUI is in a sideways trend after falling above the $1.30 barrier. The altcoin is oscillating above the $1.30 support and below the $1.80 resistance level. Today, the cryptocurrency fell below the moving average lines, reaching a low of $1.39. The altcoin’s decline has slowed as it rises above its current support level.

Disclaimer. This analysis and forecast are the personal opinions of the author. The data provided is collected by the author and is not sponsored by any company or token developer. This is 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.