SUI’s Rising Trend Halts at $1.80

Sui’s (SUI) price has resumed its upward trend, breaking above the 21-day SMA barrier.

SUI price long-term prediction: bullish

Since November 21, the cryptocurrency price has traded above the $1.30 support before rebounding. On the downside, bears retested the $1.30 support twice but failed to push the price below it.

On the upside, bulls have broken through the 21-day SMA and retested the current support level. The inference is that SUI is expected to reach the top of the 50-day SMA barrier, or $1.88. Meanwhile, the price is trading within a narrow range. At the time of writing, SUI price is at $1.62.

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 price bars are caught between the moving average lines. The altcoin will trend when it breaks either the 21-day SMA support or the 50-day SMA resistance. Doji candlesticks characterise the price action. On the 4-hour chart, the price bars are above the upward-sloping moving average lines.

What is the next move for Sui?

SUI price bars are rising above the moving average lines on the 4-hour chart. The upward movement has halted at the $1.80 high. The cryptocurrency is trading above the moving average lines but below the $1.80 resistance level. Currently, the altcoin has fallen below the moving average lines, and bears are attempting to push the price lower.

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.